Analysts' ratings for Best Buy Co BBY over the last quarter vary from bullish to bearish, as provided by 16 analysts.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 5 | 4 | 6 | 1 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 1 | 0 | 0 |
| 2M Ago | 4 | 4 | 5 | 1 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $105.12, along with a high estimate of $123.00 and a low estimate of $80.00. Surpassing the previous average price target of $93.40, the current average has increased by 12.55%.
Interpreting Analyst Ratings: A Closer Look
The perception of Best Buy Co by financial experts is analyzed through recent analyst actions. The following summary presents 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 Baker | DA Davidson | Maintains | Buy | $117.00 | $117.00 |
| 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 |
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: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect 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.
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.
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.
Understanding the Numbers: Best Buy Co's Finances
Market Capitalization Analysis: With a profound presence, the company's market capitalization is above industry averages. This reflects substantial size and strong market recognition.
Decline in Revenue: Over the 3 months period, Best Buy Co faced challenges, resulting in a decline of approximately -3.08% in revenue growth as of 31 July, 2024. This signifies a reduction in the company's top-line earnings. When compared to others in the Consumer Discretionary sector, the company excelled with a growth rate higher than the average among peers.
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 ROE stands out, surpassing industry averages. With an impressive ROE of 9.4%, the company demonstrates effective use of equity capital and strong financial performance.
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 1.92%, 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. With a ratio of 1.32, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
The Significance of Analyst Ratings Explained
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 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.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.
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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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