Across the recent three months, 19 analysts have shared their insights on Best Buy Co (NYSE:BBY), expressing a variety of opinions spanning from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 7 | 5 | 6 | 1 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 1 | 2 | 0 | 0 | 0 |
| 2M Ago | 1 | 0 | 0 | 0 | 0 |
| 3M Ago | 4 | 3 | 6 | 1 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $106.47, a high estimate of $123.00, and a low estimate of $80.00. Witnessing a positive shift, the current average has risen by 9.08% from the previous average price target of $97.61.
Deciphering Analyst Ratings: An In-Depth Analysis
In examining recent analyst actions, we gain insights into 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 |
|---|---|---|---|---|---|
| Anthony Chukumba | Loop Capital | Lowers | Buy | $100.00 | $110.00 |
| Joseph Feldman | Telsey Advisory Group | Lowers | Outperform | $110.00 | $115.00 |
| Christopher Horvers | JP Morgan | Raises | Overweight | $117.00 | $111.00 |
| 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 |
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: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Best Buy Co compared to the broader market.
- Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.
Capture valuable insights into Best Buy Co's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
Stay up to date on Best Buy Co analyst ratings.
Discovering Best Buy Co: A Closer Look
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.
Financial Milestones: Best Buy Co's Journey
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals 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. As compared to its peers, the company achieved a growth rate higher than the average among peers in Consumer Discretionary sector.
Net Margin: Best Buy Co's net margin is impressive, surpassing industry averages. With a net margin of 3.13%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 9.4%, the company showcases effective utilization of equity capital.
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 surpasses industry norms, standing at 1.32. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
How Are Analyst Ratings Determined?
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a 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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