<div id="readability-page-1"><p><span>Best Buy (NYSE:BBY - Get Free Report)</span> had its target price lowered by equities research analysts at Citigroup  from $69.00 to $60.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The brokerage presently has a &#34;neutral&#34; rating on the technology retailer's stock. Citigroup's price objective suggests a potential upside of 4.75% from the company's current price.</p><ul><li>Holiday Spending to Hit $1 Trillion—Time to Buy This Retail ETF?</li></ul><p>A number of other research analysts have also recently issued reports on BBY. Telsey Advisory Group cut their price objective on Best Buy from $95.00 to $80.00 and set an &#34;outperform&#34; rating on the stock in a report on Wednesday, March 4th. Jefferies Financial Group decreased their price target on Best Buy from $94.00 to $89.00 and set a &#34;buy&#34; rating for the company in a report on Monday, February 9th. HSBC dropped their price objective on shares of Best Buy from $96.00 to $85.00 in a research note on Thursday, February 26th. Morgan Stanley dropped their price target on shares of Best Buy from $76.00 to $72.00 and set an &#34;equal weight&#34; rating on the stock in a research report on Wednesday, March 4th. Finally, Guggenheim  restated a &#34;buy&#34; rating and issued a $90.00 price target on shares of Best Buy in a research note on Wednesday, March 4th. Nine analysts have rated the stock with a Buy rating, eleven have assigned  a Hold rating and two have issued  a Sell rating to the company. Based on data from MarketBeat, the company  has a consensus rating of &#34;Hold&#34; and an average target price of $71.30.</p><p><b>View Our Latest Research Report on BBY</b></p><h2>Best Buy Trading Down 0.6%</h2><ul><li>Best Buy Marketplace: Potential Growth Catalyst or Risky Gimmick?</li></ul><p>Shares of NYSE:BBY opened at $57.28 on Tuesday. The stock's 50-day simple moving average is $62.85 and its two-hundred day simple moving average is $68.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.43 and a current ratio of 1.11. The stock has a market capitalization of $12.07 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 1.47 and a beta of 1.22. Best Buy has a 52-week low of $56.68 and a 52-week high of $84.99. </p><p>Best Buy (NYSE:BBY - Get Free Report) last posted its earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.13. The company had revenue of $13.81 billion during the quarter, compared to analysts' expectations of $13.96 billion. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. Best Buy's quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the company posted $2.58 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS.  Analysts expect that  Best Buy will post 6.5 EPS for the current year. </p><h2>Insider Activity at Best Buy</h2><ul><li>Retail’s Comeback: 3 High-ROIC Stocks That Could Outshine AI</li></ul><p>In related news, EVP Jason J. Bonfig sold 6,336 shares of the firm's stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $405,630.72. Following the sale, the executive vice president directly owned 79,137 shares of the company's stock, valued at approximately $5,066,350.74. This trade represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities &amp; Exchange Commission, which is available at the SEC website. Also, CAO Mathew Watson sold 3,298 shares of the firm's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $211,137.96. Following the completion of the transaction, the chief accounting officer directly owned 23,192 shares in the company, valued at approximately $1,484,751.84. This represents a 12.45% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 77,247 shares of company stock worth $4,945,353. 0.59% of the stock is currently owned by company insiders. </p><h2>Hedge Funds Weigh In On Best Buy</h2><p>Several large investors have recently modified their holdings of BBY. Vanguard Group Inc. raised its stake in shares of  Best Buy by 2.4% during the third quarter. Vanguard Group Inc. now owns 23,947,415 shares of the technology retailer's stock valued at $1,810,904,000 after purchasing an additional 552,360 shares in the last quarter.  Concurrent Investment Advisors LLC grew its holdings in  Best Buy by 100.6% during the fourth quarter. Concurrent Investment Advisors LLC now owns 70,280 shares of the technology retailer's stock worth $4,704,000 after acquiring an additional 35,239 shares during the period.  Bank of New York Mellon Corp lifted its holdings in  Best Buy by 2.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,754,844 shares of the technology retailer's stock valued at $132,701,000 after acquiring an additional 39,026 shares during the last quarter.  Allianz Asset Management GmbH grew its stake in shares of  Best Buy by 5.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,639,202 shares of the technology retailer's stock worth $123,956,000 after purchasing an additional 89,057 shares during the last quarter.  Finally, National Pension Service raised its holdings in shares of  Best Buy by 60.5% in the 3rd quarter. National Pension Service now owns 112,604 shares of the technology retailer's stock worth $8,515,000 after purchasing an additional 42,465 shares in the last quarter. Institutional investors own  80.96% of the company's stock. </p><h2>About Best Buy</h2> (Get Free Report)<p>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.  </p><p>Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.</p><h2>Featured Stories</h2><ul><li>Five stocks we like better than Best Buy</li><li>AI Demand Fuels Strong Q1 Earnings for Constellation Energy</li><li>Sony's $4 Billion Bet on Rock &amp; Roll Royalties</li><li>Ubiquiti’s Uptrend Can Continue, But Don’t Rush to Buy It</li><li>TMC Forges a New EV Supply Chain at the Bottom of the Sea</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsAndPriceTargetChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUJCWQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="330" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsAndPriceTargetChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUJCWQ"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Best Buy Right Now?</h2><p>Before you consider Best Buy, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Best Buy wasn't on the list.</p><p>While Best Buy currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

EBIZ

<p>Citigroup has lowered its target price for Best Buy (NYSE:BBY) from $69.00 to $60.00, maintaining a "neutral" rating. This suggests a potential upside of 4.75% from the current price. Other analysts have also adjusted their ratings, with Telsey Advisory Group setting a new target of $80.00 and Jefferies Financial Group at $89.00. Best Buy's stock opened at $57.28, with a market cap of $12.07 billion and a consensus rating of "Hold". The company reported earnings of $2.61 per share, exceeding estimates, but revenue was slightly below expectations.</p>

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Citigroup Issues Pessimistic Forecast for Best Buy (NYSE:BBY) Stock Price