Citigroup Cuts Best Buy (NYSE:BBY) Price Target to $67.00

Best Buy (NYSE:BBY) had its target price decreased by stock analysts at Citigroup from $82.00 to $67.00 in a research note issued on Friday,MarketScreener reports. The brokerage currently has a “neutral” rating on the technology retailer’s stock. Citigroup’s target price points to a potential upside of 1.83% from the company’s previous close.

A number of other equities analysts have also weighed in on BBY. Wedbush reiterated a “neutral” rating and issued a $75.00 price target on shares of Best Buy in a research report on Thursday, November 20th. Piper Sandler raised their target price on shares of Best Buy from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Guggenheim restated a “buy” rating and set a $90.00 price target on shares of Best Buy in a report on Wednesday, November 26th. Loop Capital raised their price objective on shares of Best Buy from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Finally, Truist Financial lowered their price objective on shares of Best Buy from $77.00 to $73.00 and set a “hold” rating on the stock in a research report on Friday, January 16th. Eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Best Buy currently has an average rating of “Hold” and an average price target of $80.05.

Best Buy Stock Up 1.4%

BBY stock opened at $65.80 on Friday. The firm has a market cap of $13.79 billion, a PE ratio of 21.79, a P/E/G ratio of 1.55 and a beta of 1.44. Best Buy has a 12 month low of $54.99 and a 12 month high of $91.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26. The firm has a 50 day simple moving average of $68.83 and a 200 day simple moving average of $73.16.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. The company had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $9.57 billion. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Equities research analysts forecast that Best Buy will post 6.18 earnings per share for the current fiscal year.

Institutional Trading of Best Buy

Several hedge funds and other institutional investors have recently modified their holdings of BBY. Woodline Partners LP increased its position in Best Buy by 40.1% during the first quarter. Woodline Partners LP now owns 16,436 shares of the technology retailer’s stock worth $1,210,000 after buying an additional 4,701 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Best Buy by 20.6% during the 2nd quarter. Blue Trust Inc. now owns 1,160 shares of the technology retailer’s stock valued at $78,000 after acquiring an additional 198 shares during the last quarter. CWM LLC raised its stake in shares of Best Buy by 123.5% in the 2nd quarter. CWM LLC now owns 49,334 shares of the technology retailer’s stock valued at $3,312,000 after acquiring an additional 27,259 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Best Buy by 8.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,973 shares of the technology retailer’s stock worth $468,000 after purchasing an additional 546 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in Best Buy by 13.9% during the second quarter. TD Asset Management Inc now owns 167,236 shares of the technology retailer’s stock valued at $11,227,000 after purchasing an additional 20,397 shares during the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Company Profile

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.