Throughout the last three months, 17 analysts have evaluated Best Buy Co BBY, offering a diverse set of opinions from bullish to bearish.
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 | 6 | 4 | 6 | 1 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 1 | 0 | 0 | 0 | 0 |
| 2M Ago | 0 | 0 | 1 | 0 | 0 |
| 3M Ago | 4 | 4 | 5 | 1 | 0 |
In the assessment of 12-month price targets, analysts unveil insights for Best Buy Co, presenting an average target of $105.35, a high estimate of $123.00, and a low estimate of $80.00. This upward trend is evident, with the current average reflecting a 11.19% increase from the previous average price target of $94.75.
Analyzing Analyst Ratings: A Detailed Breakdown
An in-depth analysis of recent analyst actions unveils how financial experts perceive Best Buy Co. The following summary 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 |
|---|---|---|---|---|---|
| Steven Zaccone | Citigroup | Lowers | Buy | $109.00 | $115.00 |
| 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 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: 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 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.
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Best Buy Co's market standing. Stay informed and make data-driven decisions with our Ratings Table.
Stay up to date on Best Buy Co analyst ratings.
About 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.
Best Buy Co: Financial Performance Dissected
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 31 July, 2024, the company experienced a revenue decline of approximately -3.08%. This indicates a decrease in the company's 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: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 3.13%, the company showcases strong profitability and effective cost control.
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): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 1.92%, the company showcases effective utilization of assets.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 1.32, caution is advised due to increased financial risk.
What Are Analyst Ratings?
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 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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