Wedbush Lowers Best Buy (NYSE:BBY) Price Target to $70.00

Best Buy (NYSE:BBY) had its price target dropped by research analysts at Wedbush from $80.00 to $70.00 in a report issued on Tuesday, MarketBeat reports. The firm presently has a “neutral” rating on the technology retailer’s stock. Wedbush’s price objective indicates a potential upside of 12.17% from the company’s previous close.

BBY has been the topic of a number of other research reports. BNP Paribas Exane cut their price target on shares of Best Buy from $69.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 26th. Truist Financial cut their target price on Best Buy from $77.00 to $73.00 and set a “hold” rating on the stock in a research report on Friday, January 16th. Wall Street Zen lowered Best Buy from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Daiwa Securities Group boosted their price target on Best Buy from $76.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, November 28th. Finally, JPMorgan Chase & Co. cut Best Buy from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $99.00 to $76.00 in a research note on Monday, February 2nd. Seven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $79.79.

Best Buy Price Performance

Shares of NYSE BBY opened at $62.41 on Tuesday. Best Buy has a fifty-two week low of $54.99 and a fifty-two week high of $91.20. The company has a market cap of $13.08 billion, a PE ratio of 20.66, a P/E/G ratio of 1.50 and a beta of 1.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.26 and a current ratio of 1.05. The business has a 50-day simple moving average of $67.47 and a two-hundred day simple moving average of $73.11.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.09. The firm had revenue of $9.67 billion for the quarter, compared to the consensus estimate of $9.57 billion. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.26 earnings per share. As a group, equities analysts expect that Best Buy will post 6.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Best Buy

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 307,905 shares in the last quarter. State Street Corp grew its position in Best Buy by 3.8% during the second quarter. State Street Corp now owns 13,631,429 shares of the technology retailer’s stock valued at $927,753,000 after buying an additional 496,215 shares during the period. AQR Capital Management LLC increased its holdings in Best Buy by 30.9% in the fourth quarter. AQR Capital Management LLC now owns 9,158,839 shares of the technology retailer’s stock valued at $613,001,000 after buying an additional 2,160,968 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Best Buy by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,452,642 shares of the technology retailer’s stock worth $498,805,000 after acquiring an additional 160,713 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Best Buy by 6.1% during the 4th quarter. Invesco Ltd. now owns 4,732,080 shares of the technology retailer’s stock worth $316,718,000 after acquiring an additional 271,988 shares in the last quarter. Hedge funds and other institutional investors 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: Exclusive retail deal — Best Buy will be the U.S. exclusive retailer for the ProArt GoPro Limited Edition (PX13) laptop, a premium, CES‑award product that could drive traffic and higher‑margin accessory/services sales. GoPro and ASUS Co-Branded ProArt Laptop Available Globally
• Positive Sentiment: Analyst support — Telsey Advisory reaffirmed an “outperform” rating with a $95 price target, signaling conviction in Best Buy’s longer‑term upside and providing a potential catalyst for buyers. Telsey Reaffirms Outperform
• Neutral Sentiment: Mixed analyst actions — Wedbush trimmed its price target from $80 to $70 but kept a “neutral” rating, reflecting tempered expectations rather than an outright downgrade. This reduces near‑term upside while not signaling a turning point. Wedbush Adjusts Price Target
• Negative Sentiment: Earnings risk — Multiple previews (Zacks, Yahoo) flag that Q4 earnings are likely to decline and that Best Buy lacks the setup for an earnings beat, increasing the chance of a disappointing report. Earnings Preview: Best Buy Q4 Expected to Decline
• Negative Sentiment: Soft category trends — Wedbush and coverage note downside risk to comps from weak consumer electronics/holiday sales, a direct hit to Best Buy’s core retail performance and margin outlook. Q4 Faces Downside Risks
• Negative Sentiment: Momentum/valuation concerns — Recent coverage highlights fading share‑price momentum and elevated near‑term risk, which can amplify selling pressure before any clearer earnings signal. A Look At Best Buy’s Valuation After Recent Share Price Weakness

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.