At the time of writing, Best Buy Co. Inc. [BBY] stock is trading at $82.55, up 3.01%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The BBY shares have gain 2.97% over the last week, with a monthly amount glided 5.05%, and seem to be holding up well over a long-time horizon.
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On 9, April 2024, Best Buy, Google Cloud, and Accenture Partner to Create a Better Customer Support Experience with Generative AI. In a post published today on Yahoo Finance, Best Buy selects Google Cloud as its AI innovation and strategic partner for several of its key customer care initiatives.
From an analyst’s perspective:
Best Buy Co. Inc. [NYSE: BBY] stock has seen the most recent analyst activity on April 08, 2024, when Jefferies reiterated its Buy rating and also revised its price target to $94 from $95. Previously, JP Morgan upgraded its rating to Overweight on March 22, 2024, and elevated its price target to $101. On March 20, 2024, upgrade upgraded it’s rating to Outperform and revised its price target to $95 on the stock. Telsey Advisory Group reiterated its Market Perform rating and increased its price target to $85 on March 01, 2024. Jefferies upgraded its rating to a Buy and raised its price target to $89 on December 11, 2023. Telsey Advisory Group reiterated a Market Perform rating for this stock on November 22, 2023, and downed its price target to $75. In a note dated October 19, 2023, Goldman upgraded an Buy rating on this stock and boosted its target price from $79 to $85.
For the past year, the stock price of Best Buy Co. Inc. fluctuated between $62.30 and $86.11. Currently, Wall Street analysts expect the stock to reach $99.71 within the next 12 months. Best Buy Co. Inc. [NYSE: BBY] shares were valued at $82.55 at the most recent close of the market. An investor can expect a potential return of 20.79% based on the average BBY price forecast.
Analyzing the BBY fundamentals
According to Best Buy Co. Inc. [NYSE:BBY], the company’s sales were 43.45B for trailing twelve months, which represents an -0.60% plunge. Gross Profit Margin for this corporation currently stands at 0.22% with Operating Profit Margin at 0.04%, Pretax Profit Margin comes in at 0.04%, and Net Profit Margin reading is 0.03%. To continue investigating profitability, this company’s Return on Assets is posted at 0.08, Equity is 0.43 and Total Capital is 0.25. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.58.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 81.04 points at the first support level, and at 79.52 for the second support level. However, for the 1st resistance point, the stock is sitting at 83.69, and for the 2nd resistance point, it is at 84.83.
Best Buy Co. Inc. [BBY] reported earnings per share of $2.72 for its fiscal quarter that ended on 1/30/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $2.52/share, meaning a difference of $0.2 and a surprise factor of 7.90%. By comparison, the stated earnings for the previous quarter ended on 10/30/2023 were $1.29 per share as compared to estimates of $1.18 per share, a difference of $0.11 representing a surprise of 9.30%.
Ratios To Look Out For
It is important to note that Best Buy Co. Inc. [NYSE:BBY] has a current ratio of 1.00. Further, the Quick Ratio stands at 0.37, while the Cash Ratio is 0.18. Considering the valuation of this stock, the price to sales ratio is 0.41, the price to book ratio is 5.82 and price to earnings (TTM) ratio is 14.51.
Transactions by insiders
Recent insider trading involved Barry Corie S, CEO, that happened on Mar 22 ’24 when 28042.0 shares were sold. SEVP Enterprise Strategy & CFO, Bilunas Matthew M completed a deal on Mar 22 ’24 to sell 8258.0 shares. Meanwhile, SEVP Cust. Offerings & Fulfill Bonfig Jason J sold 7117.0 shares on Mar 22 ’24.
