Best Buy (NYSE:BBY) Price Target Lowered to $76.00 at The Goldman Sachs Group

Best Buy (NYSE:BBY) had its target price reduced by analysts at The Goldman Sachs Group from $93.00 to $76.00 in a note issued to investors on Wednesday,MarketScreener reports. The brokerage presently has a “buy” rating on the technology retailer’s stock. The Goldman Sachs Group’s target price points to a potential upside of 14.35% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Wedbush decreased their price target on Best Buy from $80.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, February 24th. HSBC lowered their target price on shares of Best Buy from $96.00 to $85.00 in a report on Thursday, February 26th. Citigroup cut their price target on shares of Best Buy from $82.00 to $67.00 and set a “neutral” rating for the company in a report on Friday, February 13th. Morgan Stanley lowered their price objective on Best Buy from $82.00 to $76.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Finally, BNP Paribas Exane increased their target price on Best Buy from $68.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $77.25.

Best Buy Stock Performance

Shares of Best Buy stock traded up $0.51 on Wednesday, hitting $66.46. The stock had a trading volume of 289,111 shares, compared to its average volume of 4,782,809. The company’s 50 day moving average price is $66.83 and its 200 day moving average price is $72.90. The stock has a market cap of $13.93 billion, a price-to-earnings ratio of 22.01, a P/E/G ratio of 1.47 and a beta of 1.46. The company has a current ratio of 1.05, a quick ratio of 0.26 and a debt-to-equity ratio of 0.44. Best Buy has a 52-week low of $54.99 and a 52-week high of $84.99.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.13. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The business had revenue of $13.81 billion during the quarter, compared to the consensus estimate of $13.96 billion. During the same period in the prior year, the company earned $2.58 earnings per share. The company’s revenue was down 1.0% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, research analysts anticipate that Best Buy will post 6.18 EPS for the current year.

Institutional Investors Weigh In On Best Buy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Palisade Asset Management LLC purchased a new stake in shares of Best Buy in the third quarter valued at $25,000. Harbor Capital Advisors Inc. grew its stake in shares of Best Buy by 69.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after buying an additional 138 shares during the period. MV Capital Management Inc. purchased a new position in shares of Best Buy in the 4th quarter worth $25,000. Torren Management LLC acquired a new position in Best Buy in the fourth quarter valued at $25,000. Finally, Root Financial Partners LLC acquired a new stake in Best Buy during the third quarter worth about $32,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Key Best Buy News

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Q4 earnings beat and profit improvement — Best Buy reported $2.61 GAAP EPS vs. consensus ~$2.48 and highlighted margin gains and cost discipline that drove stronger profits despite a small sales decline. MarketWatch: Q4 Results
• Positive Sentiment: Buy-side support remains — Guggenheim reaffirmed a “buy” and a $90 price target, signaling conviction that earnings strength and buyback/dividend support value. Benzinga: Guggenheim Rating
• Positive Sentiment: Operational progress cited by analysts — Coverage notes that a leaner cost structure and improved profitability are driving the post‑earnings rally even as sales soften. 247WallSt: Cost Structure
• Neutral Sentiment: Telsey cut its price target to $80 but kept an “outperform” rating (still a material upside vs. the current price), reflecting mixed long‑term conviction.
• Neutral Sentiment: Piper Sandler trimmed its target to $68 and moved to “neutral,” reducing upside expectations for near‑term performance. Benzinga: Piper Sandler
• Neutral Sentiment: FY‑2027 guidance updated to $6.30–$6.60 EPS (consensus ~6.68) and revenue guidance slightly below street expectations, which tempers the beat and leaves investors weighing near‑term growth headwinds.
• Negative Sentiment: Revenue and same‑store sales weakness — Q4 revenue was $13.81B vs. estimates near $13.96B and comp sales slipped (~‑0.8%), reinforcing that consumers are pulling back on big‑ticket electronics. Yahoo Finance: Revenue Miss
• Negative Sentiment: Company warns of softer annual sales and supply/tariff uncertainty — Best Buy forecast annual sales below Wall Street estimates, a clear headwind to multiple expansion. Reuters: Sales Forecast
• Negative Sentiment: Sell-side critique and structural concerns — A Seeking Alpha piece downgraded BBY to “Sell,” highlighting weak differentiation, e‑commerce vulnerability, and limited near‑term catalysts despite a high dividend yield. Seeking Alpha: Sell Rating

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.