Truist Financial Boosts Best Buy (NYSE:BBY) Price Target to $81.00

Posted by Donald Scott on May 29th, 2026

Best Buy (NYSE:BBY – Get Free Report) had its target price raised by research analysts at Truist Financial from $66.00 to $81.00 in a research note issued on Friday,MarketScreener reports. The brokerage currently has a “hold” rating on the technology retailer’s stock. Truist Financial’s target price indicates a potential upside of 7.82% from the company’s previous close.

A number of other analysts have also issued reports on the company. Citigroup dropped their target price on Best Buy from $69.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. UBS Group set a $86.00 price target on Best Buy and gave the company a “buy” rating in a report on Friday. Morgan Stanley lifted their price objective on Best Buy from $72.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday. Wells Fargo & Company cut their target price on Best Buy from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 14th. Finally, Wedbush increased their target price on Best Buy from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Seven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Best Buy has an average rating of “Hold” and an average price target of $78.60.

View Our Latest Stock Report on BBY

Best Buy Price Performance

Shares of BBY stock opened at $75.12 on Friday. The firm has a fifty day simple moving average of $61.99 and a 200-day simple moving average of $66.80. The company has a market capitalization of $15.83 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 1.59 and a beta of 1.22. Best Buy has a twelve month low of $55.10 and a twelve month high of $84.99. The company has a current ratio of 1.11, a quick ratio of 0.43 and a debt-to-equity ratio of 0.39.

Best Buy (NYSE:BBY – Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The firm had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter in the previous year, the firm posted $1.15 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Equities research analysts anticipate that Best Buy will post 6.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Jason J. Bonfig sold 6,336 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $405,630.72. Following the completion of the sale, the executive vice president directly owned 79,137 shares of the company’s stock, valued at $5,066,350.74. The trade was a 7.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Corie S. Barry sold 42,869 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $2,744,473.38. Following the sale, the chief executive officer owned 523,138 shares in the company, valued at $33,491,294.76. The trade was a 7.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 77,247 shares of company stock valued at $4,945,353. 0.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On Best Buy

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Best Buy by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 23,947,415 shares of the technology retailer’s stock worth $1,810,904,000 after buying an additional 552,360 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in shares of Best Buy by 100.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 70,280 shares of the technology retailer’s stock valued at $4,704,000 after buying an additional 35,239 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Best Buy by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,754,844 shares of the technology retailer’s stock valued at $132,701,000 after buying an additional 39,026 shares during the last quarter. Allianz Asset Management GmbH raised its stake in Best Buy by 5.7% during the third quarter. Allianz Asset Management GmbH now owns 1,639,202 shares of the technology retailer’s stock worth $123,956,000 after acquiring an additional 89,057 shares during the period. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in Best Buy during the fourth quarter worth about $1,741,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Key Stories Impacting Best Buy

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

Positive Sentiment: Best Buy delivered a clean Q1 beat on earnings and revenue, with positive comparable sales growth and improving margins. Best Buy (BBY) Beats Earnings Expectations, Shares Climb 15.8%
Positive Sentiment: The company maintained its full-year guidance and issued Q2 sales guidance that came in better than expected, reinforcing confidence in the turnaround. Best Buy Reports First Quarter Results
Positive Sentiment: Analyst sentiment improved after the report, with Jefferies raising its price target to $89 and Morgan Stanley lifting its target to $80, signaling additional upside. Analyst price target updates for Best Buy
Neutral Sentiment: Unusual call option activity suggests traders are positioning for more volatility and continued momentum in BBY. Stock Traders Buy High Volume of Best Buy Call Options (NYSE:BBY)
Neutral Sentiment: Best Buy also announced a quarterly dividend of $0.96 per share, which may appeal to income-focused investors. Best Buy dividend announcement

Best Buy Company Profile

(Get Free Report)

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.