DA Davidson Issues Pessimistic Forecast for Best Buy (NYSE:BBY) Stock Price

by · The Markets Daily

Best Buy (NYSE:BBY – Get Free Report) had its price objective lowered by research analysts at DA Davidson from $90.00 to $85.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm presently has a “buy” rating on the technology retailer’s stock. DA Davidson’s price target would suggest a potential upside of 27.90% from the company’s current price.

Several other equities analysts have also issued reports on BBY. Piper Sandler reissued a “buy” rating on shares of Best Buy in a report on Wednesday. KeyCorp restated a “sector weight” rating on shares of Best Buy in a report on Wednesday. Citigroup decreased their target price on shares of Best Buy from $82.00 to $67.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Truist Financial set a $66.00 price target on shares of Best Buy in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered Best Buy from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $99.00 to $76.00 in a report on Monday, February 2nd. Nine research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $77.25.

Get Our Latest Research Report on BBY

Best Buy Trading Up 0.8%

BBY stock traded up $0.51 during mid-day trading on Wednesday, reaching $66.46. The company had a trading volume of 289,111 shares, compared to its average volume of 4,782,809. The company has a market capitalization of $13.93 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. The firm has a 50 day moving average of $66.83 and a 200 day moving average of $72.90. Best Buy has a 12 month low of $54.99 and a 12 month high of $84.99. 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 – Get Free Report) last announced its quarterly earnings data on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share (EPS) for the quarter, topping 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 company had revenue of $13.81 billion for the quarter, compared to analysts’ expectations of $13.96 billion. During the same quarter in the prior year, the firm earned $2.58 earnings per share. Best Buy’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, equities analysts predict that Best Buy will post 6.18 earnings per share for the current fiscal year.

Institutional Trading of Best Buy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Woodline Partners LP increased its holdings in shares of Best Buy by 40.1% in the first quarter. Woodline Partners LP now owns 16,436 shares of the technology retailer’s stock valued at $1,210,000 after purchasing an additional 4,701 shares during the period. State of Michigan Retirement System lifted its holdings in shares of Best Buy by 2.0% during the second quarter. State of Michigan Retirement System now owns 73,103 shares of the technology retailer’s stock worth $4,907,000 after purchasing an additional 1,400 shares during the period. Bank of Montreal Can boosted its position in Best Buy by 110.4% in the second quarter. Bank of Montreal Can now owns 337,776 shares of the technology retailer’s stock valued at $22,675,000 after buying an additional 177,261 shares during the last quarter. Freestone Capital Holdings LLC raised its position in Best Buy by 32.5% during the 2nd quarter. Freestone Capital Holdings LLC now owns 4,509 shares of the technology retailer’s stock worth $303,000 after buying an additional 1,107 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its stake in Best Buy by 7.7% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 73,804 shares of the technology retailer’s stock valued at $4,966,000 after acquiring an additional 5,270 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Trending Headlines about Best Buy

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

(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.

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