10 analysts have expressed a variety of opinions on Best Buy Co BBY over the past quarter, offering a diverse set of opinions 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 | 2 | 4 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 0 | 0 | 1 | 0 | 0 |
| 3M Ago | 4 | 1 | 3 | 0 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $93.8, a high estimate of $106.00, and a low estimate of $85.00. This upward trend is evident, with the current average reflecting a 8.69% increase from the previous average price target of $86.30.
Diving into Analyst Ratings: An In-Depth Exploration
A clear picture of Best Buy Co's perception among financial experts is painted 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 |
| Scot Ciccarelli | Truist Securities | Maintains | Hold | $86.00 | $86.00 |
| 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 |
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: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Best Buy Co compared to the broader market.
- Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Best Buy Co's stock. This comparison reveals trends in analysts' expectations over time.
Capture valuable insights into Best Buy Co's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
Stay up to date on Best Buy Co analyst ratings.
Unveiling the Story Behind Best Buy Co
With $43.5 billion in consolidated 2023 sales, Best Buy is the largest pure-play consumer electronics retailer in the US, 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 US e-commerce channel roughly double from prepandemic levels, with management estimating that it will represent a mid-30% proportion of sales moving forward.
A Deep Dive into Best Buy Co's Financials
Market Capitalization Analysis: The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.
Revenue Growth: Best Buy Co's revenue growth over a period of 3 months has faced challenges. As of 30 April, 2024, the company experienced a revenue decline of approximately -6.55%. This indicates a decrease in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Consumer Discretionary sector.
Net Margin: Best Buy Co's net margin is impressive, surpassing industry averages. With a net margin of 2.78%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Best Buy Co's ROE excels beyond industry benchmarks, reaching 8.02%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Best Buy Co's ROA stands out, surpassing industry averages. With an impressive ROA of 1.66%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Best Buy Co's debt-to-equity ratio surpasses industry norms, standing at 1.29. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
The Significance of Analyst Ratings Explained
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 supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
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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