Best Buy (NYSE:BBY) Given New $69.00 Price Target at Citigroup

Best Buy (NYSE:BBY) had its price target increased by Citigroup from $67.00 to $69.00 in a report issued on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the technology retailer’s stock.

Several other equities research analysts also recently commented on BBY. DA Davidson dropped their target price on Best Buy from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday. Wedbush lowered their price target on Best Buy from $80.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, February 24th. BNP Paribas Exane increased their price objective on shares of Best Buy from $68.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday. Truist Financial reduced their price objective on shares of Best Buy from $73.00 to $66.00 and set a “hold” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut shares of Best Buy from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $99.00 to $76.00 in a report on Monday, February 2nd. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $77.15.

Best Buy Price Performance

Shares of BBY opened at $67.31 on Wednesday. Best Buy has a fifty-two week low of $54.99 and a fifty-two week high of $84.99. The firm’s 50-day simple moving average is $66.78 and its two-hundred day simple moving average is $72.86. The stock has a market cap of $14.10 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 1.58 and a beta of 1.46. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.26 and a current ratio of 1.11.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.13. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The firm had revenue of $13.81 billion during the quarter, compared to analyst estimates of $13.96 billion. During the same period last year, the business earned $2.58 earnings per share. The business’s revenue was down 1.0% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Analysts anticipate that Best Buy will post 6.18 earnings per share for the current fiscal year.

Institutional Trading of Best Buy

Institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. raised its holdings in shares of Best Buy by 69.3% during the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after purchasing an additional 138 shares during the last quarter. Torren Management LLC bought a new stake in Best Buy in the 4th quarter worth approximately $25,000. MV Capital Management Inc. bought a new stake in Best Buy in the 4th quarter worth approximately $25,000. Palisade Asset Management LLC purchased a new stake in Best Buy during the 3rd quarter valued at $25,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Best Buy during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

More Best Buy News

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

• Positive Sentiment: Q4 earnings beat and strong profitability — Best Buy topped EPS estimates and reported a big jump in net income, which markets interpreted as execution on cost discipline and higher‑margin mix. BBY Jumps 7% as Q4 Earnings Beat Signals Strong Strategic Execution
• Positive Sentiment: Shift to higher‑margin digital businesses and shareholder returns — Management highlighted Ads and Marketplace growth, small‑format/AI investments and raised the dividend, supporting a narrative of margin expansion even with softer top‑line trends. Best Buy Earnings Beat Highlights Shift To Higher Margin Digital Model
• Positive Sentiment: Analyst upgrades/target bumps — Several firms raised price targets or reiterated coverage after the print (Evercore, BNP Paribas, Citigroup among others), providing additional support to the rally. Evercore PT Raised to $75
• Neutral Sentiment: Valuation debate — Independent analysis pieces are weighing whether current share price reflects DCF upside or a P/E premium risk given slower growth; this frames differing investor views on whether the rally is justified. Is Best Buy (BBY) Pricing Reflect The DCF Upside Or P/E Premium Risk
• Neutral Sentiment: Outlook provides some downside protection — UBS and other analysts say FY2027 guidance, while below consensus, gives a defined range that limits downside versus a no‑guide scenario. Best Buy’s Fiscal 2027 Outlook Offers Cushion Despite Soft Sales Assumptions, UBS Says
• Negative Sentiment: Guidance and revenue came in under expectations — Best Buy’s FY2027 revenue and EPS ranges were modestly below Street estimates, and quarterly revenue missed — a key reason some investors remain cautious. Best Buy forecasts annual sales below estimates
• Negative Sentiment: Soft comparable sales — Same‑store sales were down (holiday sales disappointed), meaning profit gains came more from mix and cost cuts than from topline strength. Best Buy (NYSE:BBY) Misses Q4 CY2025 Revenue Estimates, But Stock Soars 13.3%
• Negative Sentiment: Near‑term demand risks flagged by Wedbush — Analyst notes that memory pricing/shortages and consumer reluctance on big‑ticket items could pressure sales in the short term. Best Buy Facing Near-Term Demand Challenges, Wedbush Says
• Negative Sentiment: Mixed analyst reactions and downgrades — While some firms raised targets, others cut targets or reiterated lower conviction; Seeking Alpha published a sell‑oriented note arguing limited catalysts, which could cap upside for some investors. Best Buy: No Compelling Reason To Own (Rating Downgrade)

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.