DA Davidson Lowers Best Buy (NYSE:BBY) Price Target to $110.00

Best Buy (NYSE:BBY) had its target price lowered by DA Davidson from $117.00 to $110.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology retailer’s stock. DA Davidson’s target price points to a potential upside of 39.96% from the stock’s current price. DA Davidson also issued estimates for Best Buy’s Q1 2026 earnings at $1.11 EPS and FY2027 earnings at $7.42 EPS.

BBY has been the subject of a number of other research reports. KeyCorp reaffirmed a “sector weight” rating on shares of Best Buy in a research report on Wednesday. Barclays decreased their price objective on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. Guggenheim decreased their price objective on shares of Best Buy from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday. Evercore ISI decreased their price objective on shares of Best Buy from $95.00 to $80.00 and set an “in-line” rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group decreased their price objective on shares of Best Buy from $106.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.50.

Best Buy Stock Up 4.1 %

Best Buy stock opened at $78.60 on Wednesday. The company has a market cap of $16.80 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. Best Buy has a 1-year low of $69.29 and a 1-year high of $103.71. The company has a fifty day simple moving average of $85.75 and a 200 day simple moving average of $90.43. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.18. The business had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same quarter last year, the firm earned $2.72 earnings per share. Research analysts anticipate that Best Buy will post 6.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the sale, the chief financial officer now owns 92,070 shares in the company, valued at $8,052,442.20. The trade was a 42.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.59% of the company’s stock.

Institutional Trading of Best Buy

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Best Buy by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 22,982,608 shares of the technology retailer’s stock worth $1,971,908,000 after purchasing an additional 191,161 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Best Buy by 6.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,560,368 shares of the technology retailer’s stock valued at $562,880,000 after buying an additional 395,415 shares during the period. Raymond James Financial Inc. bought a new position in Best Buy in the 4th quarter valued at about $514,483,000. Geode Capital Management LLC increased its holdings in Best Buy by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 5,092,820 shares of the technology retailer’s stock valued at $436,210,000 after buying an additional 239,840 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Best Buy by 13.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,824,425 shares of the technology retailer’s stock valued at $328,136,000 after buying an additional 459,353 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.