Providing a diverse range of perspectives from bullish to bearish, 16 analysts have published ratings on Best Buy Co BBY in the last three months.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 4 | 4 | 7 | 1 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 4 | 3 | 5 | 1 | 0 |
| 2M Ago | 0 | 1 | 0 | 0 | 0 |
| 3M Ago | 0 | 0 | 1 | 0 | 0 |
Insights from analysts' 12-month price targets are revealed, presenting an average target of $103.19, a high estimate of $123.00, and a low estimate of $80.00. This upward trend is evident, with the current average reflecting a 12.99% increase from the previous average price target of $91.33.
Understanding Analyst Ratings: A Comprehensive Breakdown
A comprehensive examination of how financial experts perceive Best Buy Co is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Karen Short | Melius Research | Announces | Hold | $100.00 | - |
| Kate McShane | Goldman Sachs | Raises | Buy | $116.00 | $95.00 |
| Zachary Fadem | Wells Fargo | Raises | Equal-Weight | $95.00 | $80.00 |
| Joseph Feldman | Telsey Advisory Group | Raises | Outperform | $115.00 | $95.00 |
| Steven Zaccone | Citigroup | Raises | Buy | $115.00 | $100.00 |
| Christopher Horvers | JP Morgan | Raises | Overweight | $111.00 | $101.00 |
| Seth Basham | Wedbush | Raises | Neutral | $95.00 | $85.00 |
| Seth Sigman | Barclays | Raises | Equal-Weight | $95.00 | $81.00 |
| Michael Lasser | UBS | Raises | Buy | $123.00 | $106.00 |
| Peter Keith | Piper Sandler | Raises | Overweight | $114.00 | $100.00 |
| Scot Ciccarelli | Truist Securities | Raises | Hold | $107.00 | $86.00 |
| Greg Melich | Evercore ISI Group | Raises | In-Line | $94.00 | $90.00 |
| Anthony Chukumba | Loop Capital | Raises | Buy | $110.00 | $100.00 |
| Elizabeth Suzuki | B of A Securities | Raises | Underperform | $80.00 | $70.00 |
| Joseph Feldman | Telsey Advisory Group | Maintains | Outperform | $95.00 | $95.00 |
| Scot Ciccarelli | Truist Securities | Maintains | Hold | $86.00 | $86.00 |
Key Insights:
- Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Best Buy Co. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Best Buy Co compared to the broader market.
- Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Best Buy Co's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Best Buy Co's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
Stay up to date on Best Buy Co analyst ratings.
Delving into Best Buy Co's Background
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.
Best Buy Co: Financial Performance Dissected
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Revenue Challenges: Best Buy Co's revenue growth over 3 months faced difficulties. As of 31 July, 2024, the company experienced a decline of approximately -3.08%. 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 excels beyond industry benchmarks, reaching 3.13%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Best Buy Co's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 9.4%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Best Buy Co's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.92% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Best Buy Co's debt-to-equity ratio is below the industry average at 1.32, reflecting a lower dependency on debt financing and a more conservative financial approach.
How Are Analyst Ratings Determined?
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
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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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