Best Buy Co BBY has been analyzed by 12 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 4 | 4 | 3 | 0 | 1 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 3 | 2 | 3 | 0 | 0 |
| 2M Ago | 0 | 0 | 0 | 0 | 1 |
| 3M Ago | 0 | 2 | 0 | 0 | 0 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $92.92, a high estimate of $106.00, and a low estimate of $67.00. Observing a 8.58% increase, the current average has risen from the previous average price target of $85.58.
Exploring Analyst Ratings: An In-Depth Overview
The standing of Best Buy Co among financial experts is revealed through an in-depth exploration 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 |
|---|---|---|---|---|---|
| Michael Lasser | UBS | Raises | Buy | $106.00 | $85.00 |
| Anthony Chukumba | Loop Capital | Raises | Buy | $100.00 | $93.00 |
| Steven Zaccone | Citigroup | Raises | Buy | $100.00 | $67.00 |
| Michael Baker | DA Davidson | Raises | Buy | $95.00 | $90.00 |
| Scot Ciccarelli | Truist Securities | Lowers | Hold | $86.00 | $87.00 |
| Greg Melich | Evercore ISI Group | Raises | In-Line | $90.00 | $80.00 |
| Joseph Feldman | Telsey Advisory Group | Maintains | Outperform | $95.00 | $95.00 |
| Seth Basham | Wedbush | Maintains | Neutral | $85.00 | $85.00 |
| 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 |
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: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Best Buy Co compared to the broader market.
- Price Targets: Gaining insights, analysts provide estimates for the future value of Best Buy Co's stock. This comparison reveals trends in analysts' expectations over time.
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Best Buy Co's market position. Stay informed and make well-informed decisions with 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 Analysis: The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.
Negative Revenue Trend: Examining Best Buy Co's financials over 3 months reveals challenges. As of 30 April, 2024, the company experienced a decline of approximately -39.59% in revenue growth, reflecting a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Consumer Discretionary sector.
Net Margin: Best Buy Co's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 2.78% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 8.02%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Best Buy Co's ROA excels beyond industry benchmarks, reaching 1.66%. This signifies efficient management of assets and strong financial health.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 1.29.
The Core of Analyst Ratings: What Every Investor Should Know
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
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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