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

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

A number of other research analysts have also recently commented on BBY. Piper Sandler boosted their price objective on Best Buy from $75.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Guggenheim reissued a “buy” rating and set a $90.00 price target on shares of Best Buy in a research report on Wednesday, November 26th. Evercore ISI lowered their price objective on shares of Best Buy from $80.00 to $70.00 in a research report on Tuesday, February 3rd. Telsey Advisory Group lifted their price objective on shares of Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, November 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Best Buy in a research note on Wednesday, January 21st. Eight equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $80.05.

Best Buy Price Performance

BBY stock opened at $65.80 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26. Best Buy has a 1 year low of $54.99 and a 1 year high of $91.68. The firm has a market capitalization of $13.79 billion, a P/E ratio of 21.79, a P/E/G ratio of 1.55 and a beta of 1.44. The business’s 50-day moving average is $68.83 and its two-hundred day moving average is $73.16.

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

Institutional Trading of Best Buy

Institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. boosted its holdings in shares of Best Buy by 69.3% in the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after acquiring an additional 138 shares in the last quarter. Torren Management LLC acquired a new position in shares of Best Buy during the 4th quarter valued at $25,000. Palisade Asset Management LLC acquired a new position in shares of Best Buy during the 3rd quarter valued at $25,000. Hillsdale Investment Management Inc. bought a new stake in shares of Best Buy in the 4th quarter worth $29,000. Finally, Quest 10 Wealth Builders Inc. lifted its holdings in shares of Best Buy by 239.2% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock valued at $30,000 after buying an additional 311 shares during the period. Institutional investors own 80.96% of the company’s stock.

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.