Best Buy (NYSE:BBY) Given New $70.00 Price Target at Evercore ISI

Best Buy (NYSE:BBY) had its price objective lowered by equities research analysts at Evercore ISI from $80.00 to $70.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “in-line” rating on the technology retailer’s stock. Evercore ISI’s price target would indicate a potential upside of 6.29% from the stock’s current price.

A number of other research analysts have also weighed in on BBY. Citigroup raised their price target on shares of Best Buy from $73.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. BNP Paribas Exane dropped their target price on shares of Best Buy from $69.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 26th. Wedbush reaffirmed a “neutral” rating and issued a $75.00 target price on shares of Best Buy in a report on Thursday, November 20th. The Goldman Sachs Group dropped their price target on Best Buy from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. Finally, Barclays reduced their price objective on Best Buy from $81.00 to $77.00 and set an “equal weight” rating for the company in a research note on Thursday, January 8th. Eight analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $81.63.

Best Buy Stock Performance

Shares of Best Buy stock opened at $65.86 on Tuesday. The company’s 50 day moving average price is $70.64 and its two-hundred day moving average price is $73.26. The firm has a market capitalization of $13.80 billion, a P/E ratio of 21.81, a P/E/G ratio of 1.65 and a beta of 1.41. Best Buy has a fifty-two week low of $54.99 and a fifty-two week high of $91.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.09. The company had revenue of $9.67 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.During the same period in the previous year, the business posted $1.26 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. On average, equities analysts forecast that Best Buy will post 6.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Best Buy

Several hedge funds have recently added to or reduced their stakes in BBY. Harbor Capital Advisors Inc. grew its holdings in Best Buy by 69.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after acquiring an additional 138 shares during the last quarter. Torren Management LLC bought a new position in shares of Best Buy during the fourth quarter valued at about $25,000. Palisade Asset Management LLC purchased a new stake in shares of Best Buy during the third quarter worth about $25,000. Quest 10 Wealth Builders Inc. grew its stake in shares of Best Buy by 239.2% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock worth $30,000 after purchasing an additional 311 shares during the last quarter. Finally, Activest Wealth Management increased its holdings in Best Buy by 1,247.1% during the 4th quarter. Activest Wealth Management now owns 458 shares of the technology retailer’s stock valued at $31,000 after purchasing an additional 424 shares during the period. Institutional investors own 80.96% of the company’s stock.

Best Buy Company Profile

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.