UBS analyst Michael Lasser has maintained a Neutral rating on Best Buy Co (NYSE: BBY) and has increased the price target to $85, up from $82. Lasser, a top Wall Street Analyst at UBS, specializes in the Services sector and covers a variety of stocks with a 64% success rate and an average return of 12.50% per trade. In his most recent rating, Lasser recommended buying FIVE with a price target of $230.00, which represents a potential upside of 32.04%. His most successful rating to date was a buy on FND stock, which resulted in a return of +240.40%.
March 2, 2024
Best Buy Co., Inc. (BBY) Stock Price Declines Slightly on March 2, 2024: Potential for Rebound Ahead?
On March 2, 2024, Best Buy Co., Inc. (BBY) experienced a slight decline in its stock price. According to data from CNN Money, BBY closed at $77.92, which was a decrease of $2.96 or 3.66% from the previous market close. In after-hours trading, the stock rose by $0.09.
Despite the drop in price, BBY is still trading in the middle of its 52-week range and above its 200-day simple moving average. This indicates that the stock has been relatively stable over the past year.
Investors may be keeping a close eye on BBY’s performance in the coming days to see if the stock can regain some of its lost value. The after-hours trading increase may be a positive sign for some investors, suggesting potential for a rebound in the stock price.
It is important for investors to conduct their own research and analysis before making any investment decisions based on short-term fluctuations in stock prices. Market conditions can change rapidly, and it is essential to have a well-rounded understanding of a company’s financial health before making any investment decisions.
Best Buy Co., Inc. (BBY) Financial Data Analysis: Mixed Performance in Stock Prices on March 2, 2024
On March 2, 2024, Best Buy Co., Inc. (BBY) saw a mixed performance in its stock prices based on its recent financial data. According to CNN Money, the company reported a total revenue of $43.45 billion for the past year, which represented a 6.15% decrease compared to the previous year. However, the total revenue for the last quarter was $14.65 billion, showing a significant increase of 50.12% since the previous quarter.
In terms of net income, Best Buy reported $1.24 billion for the past year, representing a 12.54% decrease from the previous year. However, the net income for the last quarter was $460.00 million, showing a substantial increase of 74.9% since the previous quarter.
Earnings per share (EPS) for Best Buy were $5.68 for the past year, which was a 9.66% decrease compared to the previous year. However, the EPS for the last quarter was $2.12, showing a significant increase of 75.96% since the previous quarter.
Overall, while Best Buy experienced a decrease in total revenue, net income, and EPS compared to the previous year, the company showed strong growth in these metrics when compared to the previous quarter. This mixed performance may have contributed to fluctuations in the company’s stock prices on March 2, 2024. Investors and analysts will likely be keeping a close eye on Best Buy’s future financial performance to see if the company can sustain its growth momentum and continue to deliver positive results in the coming quarters.
