Best Buy Co BBY has been analyzed by 14 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 1 | 3 | 8 | 0 | 2 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 1 |
| 2M Ago | 0 | 0 | 0 | 0 | 0 |
| 3M Ago | 1 | 2 | 8 | 0 | 1 |
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $85.21, a high estimate of $101.00, and a low estimate of $67.00. This current average reflects an increase of 8.6% from the previous average price target of $78.46.
Breaking Down Analyst Ratings: A Detailed Examination
The standing of Best Buy Co among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Joseph Feldman | Telsey Advisory Group | Maintains | Outperform | $95.00 | $95.00 |
| Steven Zaccone | Citigroup | Lowers | Sell | $67.00 | $76.00 |
| Christopher Horvers | JP Morgan | Raises | Overweight | $101.00 | $89.00 |
| Joseph Feldman | Telsey Advisory Group | Raises | Outperform | $95.00 | $85.00 |
| Simeon Gutman | Morgan Stanley | Raises | Equal-Weight | $82.00 | $80.00 |
| Steven Zaccone | Citigroup | Raises | Sell | $76.00 | $67.00 |
| Michael Lasser | UBS | Raises | Neutral | $85.00 | $82.00 |
| Christopher Horvers | JP Morgan | Raises | Neutral | $89.00 | $78.00 |
| Seth Sigman | Barclays | Raises | Equal-Weight | $81.00 | $69.00 |
| Kate McShane | Goldman Sachs | Raises | Buy | $90.00 | $81.00 |
| Seth Basham | Wedbush | Raises | Neutral | $85.00 | $75.00 |
| Scot Ciccarelli | Truist Securities | Raises | Hold | $87.00 | $68.00 |
| Joseph Feldman | Telsey Advisory Group | Raises | Market Perform | $85.00 | $75.00 |
| Joseph Feldman | Telsey Advisory Group | Maintains | Market Perform | $75.00 | - |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Best Buy Co. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Best Buy Co compared to the broader market.
- Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Best Buy Co's stock. This comparison reveals trends in analysts' expectations over time.
For valuable insights into Best Buy Co's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
Stay up to date on Best Buy Co analyst ratings.
Discovering Best Buy Co: A Closer Look
With $43.5 billion in consolidated 2023 sales, Best Buy is the largest pure-play consumer electronics retailer in the U.S., boasting roughly 8.3% share of the North American market and north of 33% share of offline sales in the region, per our calculations, CTA, and Euromonitor data. The firm generates the bulk of its sales in-store, with mobile phones and tablets, computers, and appliances representing its three largest categories. Recent investments in e-commerce fulfillment, accelerated by the COVID-19 pandemic, have seen the U.S. e-commerce channel roughly double from prepandemic levels, with management estimating that it will represent a mid-30% proportion of sales moving forward.
Financial Insights: Best Buy Co
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Challenges: Best Buy Co's revenue growth over 3 months faced difficulties. As of 31 January, 2024, the company experienced a decline of approximately -0.6%. This indicates a decrease in top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Consumer Discretionary sector.
Net Margin: Best Buy Co's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 3.14%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 15.69%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Best Buy Co's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 2.89%, the company showcases efficient use of assets and strong financial health.
Debt Management: Best Buy Co's debt-to-equity ratio is below the industry average at 1.3, reflecting a lower dependency on debt financing and a more conservative financial approach.
Understanding the Relevance of Analyst Ratings
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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