Jefferies Financial Group Issues Pessimistic Forecast for Best Buy (NYSE:BBY) Stock Price

Best Buy (NYSE:BBY) had its target price lowered by stock analysts at Jefferies Financial Group from $94.00 to $89.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage currently has a “buy” rating on the technology retailer’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 30.82% from the stock’s previous close.

Several other analysts have also recently commented on the company. JPMorgan Chase & Co. cut Best Buy from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $99.00 to $76.00 in a report on Monday, February 2nd. Loop Capital boosted their price target on shares of Best Buy from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Truist Financial lowered their price objective on Best Buy from $77.00 to $73.00 and set a “hold” rating for the company in a research report on Friday, January 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Best Buy in a research note on Wednesday, January 21st. Finally, Evercore ISI dropped their price objective on shares of Best Buy from $80.00 to $70.00 in a report on Tuesday, February 3rd. Eight analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $80.80.

Best Buy Stock Performance

Shares of Best Buy stock opened at $68.03 on Monday. The stock has a market cap of $14.26 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 1.60 and a beta of 1.44. Best Buy has a twelve month low of $54.99 and a twelve month high of $91.68. The company’s fifty day moving average is $69.33 and its 200 day moving average is $73.28. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44.

Best Buy (NYSE:BBY) last announced its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.09. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The business had revenue of $9.67 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the company earned $1.26 EPS. Best Buy’s revenue for the quarter 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. Sell-side analysts forecast that Best Buy will post 6.18 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BBY. Vanguard Group Inc. lifted its stake in Best Buy by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 24,255,320 shares of the technology retailer’s stock valued at $1,623,409,000 after acquiring an additional 307,905 shares in the last quarter. State Street Corp grew its stake in shares of Best Buy by 3.8% in the 2nd quarter. State Street Corp now owns 13,631,429 shares of the technology retailer’s stock worth $927,753,000 after acquiring an additional 496,215 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Best Buy by 1.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 7,038,506 shares of the technology retailer’s stock valued at $472,495,000 after purchasing an additional 69,533 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Best Buy by 99.8% during the third quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer’s stock valued at $525,120,000 after purchasing an additional 3,496,254 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Best Buy by 15.8% during the second quarter. Invesco Ltd. now owns 4,548,650 shares of the technology retailer’s stock valued at $305,351,000 after purchasing an additional 621,863 shares in the last quarter. 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.