Best Buy (NYSE:BBY) Given New $89.00 Price Target at Jefferies Financial Group

Best Buy (NYSE:BBY) had its target price lowered by analysts at Jefferies Financial Group from $94.00 to $89.00 in a research note issued on Monday,MarketScreener reports. The brokerage presently has a “buy” rating on the technology retailer’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 30.86% from the stock’s current price.

Several other research analysts have also issued reports on the stock. BNP Paribas Exane dropped their price target on shares of Best Buy from $69.00 to $68.00 and set a “neutral” rating for the company in a research report on Wednesday, November 26th. The Goldman Sachs Group cut their target price on Best Buy from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. UBS Group boosted their price target on Best Buy from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Morgan Stanley lowered their price target on Best Buy from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. Finally, Barclays cut their price objective on Best Buy from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Thursday, January 8th. Eight investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $80.80.

Best Buy Price Performance

Shares of NYSE:BBY opened at $68.01 on Monday. The firm has a market capitalization of $14.25 billion, a PE ratio of 22.52, a PEG ratio of 1.68 and a beta of 1.44. The company has a current ratio of 1.05, a quick ratio of 0.26 and a debt-to-equity ratio of 0.44. Best Buy has a 1-year low of $54.99 and a 1-year high of $91.68. The business’s 50 day moving average is $69.67 and its 200-day moving average is $73.28.

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

Hedge Funds Weigh In On Best Buy

A number of large investors have recently modified their holdings of the stock. Palisade Asset Management LLC acquired a new stake in shares of Best Buy in the third quarter valued at approximately $25,000. Harbor Capital Advisors Inc. increased its stake in shares of Best Buy by 69.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after buying an additional 138 shares during the period. Torren Management LLC bought a new stake in shares of Best Buy during the fourth quarter worth $25,000. Root Financial Partners LLC acquired a new position in shares of Best Buy during the third quarter valued at $32,000. Finally, Quest 10 Wealth Builders Inc. increased its position in Best Buy by 239.2% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock worth $30,000 after purchasing an additional 311 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

About Best Buy

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.