As of January 24, 2024, Best Buy Co (NYSE:BBY) has received mixed analyst ratings, showcasing a diverse range of perspectives. Out of the 10 analysts who provided ratings last quarter, the majority (9) expressed indifference towards the stock, while only one analyst held a bullish outlook. The average 12-month price target stands at $73.8, with a high estimate of $89.00 and a low estimate of $65.00. This current average reflects a 5.12% decrease from the previous average price target of $77.78.
Recent analyst actions have resulted in a combination of rating and price target adjustments from various firms including Wedbush, Jefferies, Evercore ISI Group, Truist Securities, Telsey Advisory Group, UBS, and Wells Fargo. While some analysts have raised or maintained their ratings and price targets, others have lowered them.
According to TipRanks, the average price target for Best Buy Co is $74.14, with a high forecast suggesting a 3.17% potential upside based on the analysts’ average price target. The Wall Street Journal reports a median target of $77.00, with a high estimate of $90.00 and a low estimate of $60.00. Yahoo Finance and CNN Business also provide additional insights into analyst estimates, including earnings and revenue forecasts, with similar median targets and a range of high and low estimates.
In conclusion, the analyst ratings for Best Buy Co present a diverse range of perspectives, with the average price target indicating a slight upside potential. As an investor, it is crucial to consider these varying viewpoints and conduct thorough research before making any investment decisions.
Best Buy Co., Inc. (BBY) Stock Performance Shows Positive Momentum and Stability for Potential Growth
On January 24, 2024, Best Buy Co., Inc. (BBY) experienced a positive trend in its stock performance. BBY showed signs of stability and potential for further growth.
The price of BBY shares increased by $1.15 since the market last closed, representing a rise of 1.57%. This price momentum indicates a positive sentiment among investors.
BBY opened at $74.09, which was $1.01 higher than its previous close. This indicates a strong start to the trading day and suggests that investors were optimistic about the company’s prospects.
Trading within its 52-week range suggests that BBY’s stock price is neither at its highest nor its lowest point over the past year. This indicates a relatively stable performance, which can be attractive to investors seeking consistency.
Being near its 200-day simple moving average also adds to the positive outlook for BBY’s stock. The moving average is a commonly used technical indicator that helps identify trends and potential support or resistance levels. Being close to this average suggests that BBY’s stock price is in line with its historical performance, providing investors with a sense of stability.
Overall, the performance of BBY’s stock on January 24, 2024, was favorable. With a price increase of $1.15, representing a rise of 1.57%, and a higher opening price compared to its previous close, BBY showed signs of positive momentum. Additionally, trading within its 52-week range and near its 200-day simple moving average indicates stability and potential for further growth. Investors may view BBY as an attractive investment option based on these indicators.
Analyzing Best Buy Co., Inc.s Financial Performance: Revenue, Net Income, and EPS
On January 24, 2024, Best Buy Co., Inc. (BBY) experienced a mixed bag of financial results, as reflected in its stock performance. Let’s delve into the details and analyze the key metrics to gain a better understanding of the company’s performance.
Total Revenue:
According to data sourced from CNN Money, Best Buy’s total revenue for the past year stood at $46.30 billion. This represents a 10.55% decrease compared to the previous year’s total revenue. However, it is worth noting that the company’s total revenue remained flat since the last quarter, indicating a potential stabilization in its sales figures.
Net Income:
Best Buy reported a net income of $1.42 billion for the past year, reflecting a significant decrease of 42.18% compared to the previous year. Furthermore, the net income decreased by 4.01% since the last quarter. These figures suggest that the company’s profitability has taken a hit, both in the long-term and short-term.
Earnings per Share (EPS):
The earnings per share (EPS) is an important metric that indicates the profitability of a company on a per-share basis. Best Buy’s EPS for the past year was $6.29, reflecting a decrease of 36.13% compared to the previous year. Similarly, the EPS decreased by 3.7% since the last quarter. These declining figures indicate that the company’s profitability per share has been negatively impacted.
Overall, Best Buy’s stock performance on January 24, 2024, was influenced by a decline in key financial metrics. The total revenue decreased by 10.55% since the previous year, while the net income and EPS experienced significant decreases of 42.18% and 36.13%, respectively. Additionally, both net income and EPS declined since the last quarter, albeit to a lesser extent.
Investors should analyze these metrics in conjunction with other relevant information to make informed decisions about their investment in Best Buy or any other company.
