Best Buy (BBY) Stock Forecast, Price Target & Predictions
BBY Stock Forecast
Best Buy stock forecast is as follows: an average price target of $96.19 (represents a 10.54% upside from BBY’s last price of $87.02) and a rating consensus of 'Buy', based on 30 wall street analysts offering a 1-year stock forecast.
BBY Price Target
The average price target for Best Buy (BBY) is $96.19 based on 1-year price targets from 30 Wall Street analysts in the past 3 months, with a price target range of $140.00 to $70.00. This represents a potential 10.54% upside from BBY's last price of $87.02.
BBY Analyst Ratings
According to 30 Wall Street analysts, Best Buy's rating consensus is 'Buy'. The analyst rating breakdown for BBY stock is 1 'Strong Buy' (3.33%), 23 'Buy' (76.67%), 6 'Hold' (20.00%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).
Best Buy Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Sep 23, 2024 | Karen Short | Melius Research | $100.00 | $97.05 | 3.04% | 14.92% |
| Aug 30, 2024 | Seth Basham | Wedbush | $95.00 | $100.00 | -5.00% | 9.17% |
| Aug 30, 2024 | Anthony Chukumba | Loop Capital Markets | $110.00 | $100.00 | 9.99% | 26.41% |
| Aug 30, 2024 | Greg Melich | Evercore ISI | $94.00 | $100.18 | -6.17% | 8.02% |
| Aug 30, 2024 | Peter Keith | Piper Sandler | $114.00 | $100.18 | 13.80% | 31.00% |
| Aug 30, 2024 | Seth Sigman | Barclays | $95.00 | $100.18 | -5.17% | 9.17% |
| Aug 29, 2024 | Jonathan Matuszewski | Jefferies | $116.00 | $99.64 | 16.42% | 33.30% |
| Aug 27, 2024 | Elizabeth Suzuki | Bank of America Securities | $70.00 | $88.91 | -21.27% | -19.56% |
| Jun 17, 2024 | Michael Lasser | UBS | $106.00 | $87.21 | 21.55% | 21.81% |
| Jun 07, 2024 | Anthony Chukumba | Loop Capital Markets | $100.00 | $88.82 | 12.59% | 14.92% |
The latest Best Buy stock forecast, released on Sep 23, 2024 by Karen Short from Melius Research, set a price target of $100.00, which represents a 3.04% increase from the stock price at the time of the forecast ($97.05), and a 14.92% increase from BBY last price ($87.02).
Best Buy Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | 8 | 21 |
| Avg Price Target | - | $99.25 | $92.67 |
| Last Closing Price | $87.02 | $87.02 | $87.02 |
| Upside/Downside | -100.00% | 14.05% | 6.49% |
In the current month, the average price target of Best Buy stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to Best Buy's last price of $87.02. This month's average price target is down -100.00% compared to last quarter, and down -100.00% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Oct 15, 2024 | Wells Fargo | Buy | Buy | Hold |
| Oct 15, 2024 | Wedbush | Buy | Buy | Hold |
| Sep 23, 2024 | Wells Fargo | Buy | Buy | Hold |
| Sep 23, 2024 | Wedbush | Buy | Buy | Hold |
| Aug 30, 2024 | Telsey Advisory | Outperform | Outperform | Hold |
| Aug 30, 2024 | Wedbush | Neutral | Neutral | Hold |
| Aug 30, 2024 | Evercore ISI | Buy | Buy | Hold |
| Aug 30, 2024 | Loop Capital Markets | Buy | Buy | Hold |
| Aug 30, 2024 | Evercore ISI | Underperform | Underperform | Hold |
| Aug 30, 2024 | Piper Sandler | Overweight | Overweight | Hold |
Best Buy's last stock rating was published by Wells Fargo on Oct 15, 2024. The company gave BBY a "Buy" rating, the same as its previous rate.
Best Buy Financial Forecast
Best Buy Revenue Forecast
| Feb 26 | Nov 25 | Aug 25 | May 25 | Feb 25 | Nov 24 | Aug 24 | May 24 | Feb 24 | Nov 23 | Aug 23 | May 23 | Feb 23 | Nov 22 | Aug 22 | May 22 | Feb 22 | Nov 21 | Aug 21 | May 21 | Feb 21 | Nov 20 | Aug 20 | May 20 | Feb 20 | Nov 19 | Aug 19 | May 19 | Feb 19 | May 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | $14.65B | - | - | - | - | - | - | - | - | - | - | $11.64B | - | - | $9.91B | $8.56B | $15.20B | $9.76B | $9.54B | $9.14B | $14.80B | $9.11B |
| Avg Forecast | $14.04B | $9.83B | $9.49B | $9.03B | $13.81B | $9.64B | $9.23B | $8.96B | $14.56B | $9.89B | $9.52B | $9.53B | $14.72B | $10.31B | $10.27B | $10.41B | $16.59B | $11.65B | $11.56B | $10.40B | $17.20B | $11.00B | $9.73B | $8.24B | $15.05B | $9.70B | $9.55B | $9.14B | $14.68B | $12.95B |
| High Forecast | $14.29B | $10.00B | $9.65B | $9.19B | $14.07B | $9.70B | $9.24B | $8.96B | $14.56B | $9.96B | $9.68B | $9.69B | $14.98B | $10.47B | $10.43B | $10.57B | $16.85B | $11.83B | $11.74B | $10.56B | $17.47B | $11.17B | $9.88B | $8.37B | $15.29B | $9.85B | $9.70B | $9.28B | $14.91B | $15.54B |
| Low Forecast | $13.70B | $9.59B | $9.26B | $8.81B | $13.46B | $9.59B | $9.22B | $8.96B | $14.56B | $9.84B | $9.29B | $9.30B | $14.36B | $10.11B | $10.07B | $10.21B | $16.26B | $11.42B | $11.33B | $10.19B | $16.86B | $10.78B | $9.54B | $8.08B | $14.75B | $9.51B | $9.36B | $8.96B | $14.39B | $10.36B |
| # Analysts | 7 | 6 | 6 | 6 | 15 | 15 | 12 | 7 | 10 | 14 | 7 | 12 | 7 | 6 | 6 | 7 | 6 | 7 | 10 | 7 | 12 | 10 | 10 | 10 | 10 | 9 | 9 | 9 | 9 | 20 |
| Surprise % | - | - | - | - | - | - | - | - | 1.01% | - | - | - | - | - | - | - | - | - | - | 1.12% | - | - | 1.02% | 1.04% | 1.01% | 1.01% | 1.00% | 1.00% | 1.01% | 0.70% |
Best Buy's average Quarter revenue forecast for May 24 based on 7 analysts is $8.96B, with a low forecast of $8.96B, and a high forecast of $8.96B. BBY's average Quarter revenue forecast represents a -38.84% decrease compared to the company's last Quarter revenue of $14.65B (Feb 24).
Best Buy EBITDA Forecast
| Feb 26 | Nov 25 | Aug 25 | May 25 | Feb 25 | Nov 24 | Aug 24 | May 24 | Feb 24 | Nov 23 | Aug 23 | May 23 | Feb 23 | Nov 22 | Aug 22 | May 22 | Feb 22 | Nov 21 | Aug 21 | May 21 | Feb 21 | Nov 20 | Aug 20 | May 20 | Feb 20 | Nov 19 | Aug 19 | May 19 | Feb 19 | May 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 7 | 6 | 6 | 6 | 15 | 15 | 12 | 7 | 10 | 14 | 7 | 12 | 7 | 6 | 6 | 7 | 6 | 7 | 10 | 7 | 12 | 10 | 10 | 10 | 10 | 9 | 9 | 9 | 9 | 20 |
| EBITDA | - | - | - | - | - | - | - | - | $951.00M | - | - | - | - | - | - | - | - | - | - | $989.00M | - | - | $783.00M | $442.00M | $1.19B | $611.00M | $524.00M | $548.00M | $1.21B | $452.00M |
| Avg Forecast | $948.00M | $663.82M | $640.44M | $609.89M | $932.25M | $650.52M | $623.32M | $1.65B | $982.72M | $667.52M | $642.65M | $1.30B | $887.86M | $694.14M | $691.71M | $1.03B | $1.12B | $784.10M | $778.55M | $1.25B | $614.82M | $740.60M | $655.14M | $554.67M | $1.01B | $653.32M | $643.17M | $615.40M | $988.73M | $643.66M |
| High Forecast | $964.47M | $675.36M | $651.57M | $620.49M | $949.88M | $654.57M | $623.85M | $1.98B | $982.72M | $672.24M | $653.82M | $1.56B | $1.07B | $704.96M | $702.49M | $1.23B | $1.13B | $796.33M | $790.69M | $1.50B | $737.79M | $752.15M | $665.36M | $563.31M | $1.03B | $663.51M | $653.19M | $625.00M | $1.00B | $772.39M |
| Low Forecast | $924.95M | $647.68M | $624.87M | $595.06M | $908.52M | $647.14M | $622.78M | $1.32B | $982.72M | $664.14M | $627.02M | $1.04B | $710.28M | $680.42M | $678.04M | $823.20M | $1.09B | $768.60M | $763.16M | $1.00B | $491.86M | $725.96M | $642.19M | $543.70M | $993.36M | $640.41M | $630.45M | $603.24M | $969.19M | $514.93M |
| Surprise % | - | - | - | - | - | - | - | - | 0.97% | - | - | - | - | - | - | - | - | - | - | 0.79% | - | - | 1.20% | 0.80% | 1.17% | 0.94% | 0.81% | 0.89% | 1.23% | 0.70% |
7 analysts predict BBY's average Quarter EBITDA for May 24 to be $1.65B, with a high of $1.98B and a low of $1.32B. This is 73.15% upper than Best Buy's previous annual EBITDA (Feb 24) of $951.00M.
Best Buy Net Income Forecast
| Feb 26 | Nov 25 | Aug 25 | May 25 | Feb 25 | Nov 24 | Aug 24 | May 24 | Feb 24 | Nov 23 | Aug 23 | May 23 | Feb 23 | Nov 22 | Aug 22 | May 22 | Feb 22 | Nov 21 | Aug 21 | May 21 | Feb 21 | Nov 20 | Aug 20 | May 20 | Feb 20 | Nov 19 | Aug 19 | May 19 | Feb 19 | May 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 7 | 6 | 6 | 6 | 15 | 15 | 12 | 7 | 10 | 14 | 7 | 12 | 7 | 6 | 6 | 7 | 6 | 7 | 10 | 7 | 12 | 10 | 10 | 10 | 10 | 9 | 9 | 9 | 9 | 20 |
| Net Income | - | - | - | - | - | - | - | - | $460.00M | - | - | - | - | - | - | - | - | - | - | $595.00M | - | - | $432.00M | $159.00M | $745.00M | $293.00M | $238.00M | $265.00M | $735.00M | $208.00M |
| Avg Forecast | $592.45M | $319.20M | $319.54M | $282.15M | $530.88M | $281.65M | $251.53M | $1.00B | $548.13M | $258.74M | $232.87M | $791.89M | $500.05M | $224.11M | $275.54M | $626.00M | $590.36M | $423.93M | $411.21M | $808.90M | $308.20M | $372.09M | $224.88M | $107.25M | $596.69M | $224.31M | $214.67M | $188.39M | $556.48M | $296.20M |
| High Forecast | $605.84M | $326.42M | $326.76M | $288.53M | $554.62M | $288.15M | $252.55M | $1.20B | $548.16M | $267.29M | $238.13M | $950.27M | $600.05M | $228.65M | $287.97M | $751.20M | $602.33M | $432.52M | $419.54M | $970.69M | $369.84M | $379.63M | $229.44M | $109.43M | $608.79M | $228.85M | $219.02M | $192.21M | $567.76M | $355.44M |
| Low Forecast | $573.72M | $309.11M | $309.44M | $273.23M | $498.51M | $272.98M | $250.51M | $801.39M | $548.11M | $241.63M | $225.51M | $633.51M | $400.04M | $218.35M | $263.10M | $500.80M | $575.20M | $413.03M | $400.64M | $647.12M | $246.56M | $362.53M | $219.10M | $104.50M | $581.36M | $218.54M | $209.15M | $183.55M | $542.18M | $236.96M |
| Surprise % | - | - | - | - | - | - | - | - | 0.84% | - | - | - | - | - | - | - | - | - | - | 0.74% | - | - | 1.92% | 1.48% | 1.25% | 1.31% | 1.11% | 1.41% | 1.32% | 0.70% |
Best Buy's average Quarter net income forecast for May 24 is $1.00B, with a range of $801.39M to $1.20B. BBY's average Quarter net income forecast represents a 117.77% increase compared to the company's last Quarter net income of $460.00M (Feb 24).
Best Buy SG&A Forecast
| Feb 26 | Nov 25 | Aug 25 | May 25 | Feb 25 | Nov 24 | Aug 24 | May 24 | Feb 24 | Nov 23 | Aug 23 | May 23 | Feb 23 | Nov 22 | Aug 22 | May 22 | Feb 22 | Nov 21 | Aug 21 | May 21 | Feb 21 | Nov 20 | Aug 20 | May 20 | Feb 20 | Nov 19 | Aug 19 | May 19 | Feb 19 | May 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 7 | 6 | 6 | 6 | 15 | 15 | 12 | 7 | 10 | 14 | 7 | 12 | 7 | 6 | 6 | 7 | 6 | 7 | 10 | 7 | 12 | 10 | 10 | 10 | 10 | 9 | 9 | 9 | 9 | 20 |
| SG&A | - | - | - | - | - | - | - | - | $2.27B | - | - | - | - | - | - | - | - | - | - | $1.99B | - | - | $1.70B | $1.74B | $2.27B | $1.97B | $1.92B | $1.83B | $2.31B | $1.83B |
| Avg Forecast | $2.44B | $1.71B | $1.65B | $1.57B | $2.40B | $1.68B | $1.61B | $4.01B | $2.53B | $1.72B | $1.66B | $3.17B | $2.14B | $1.79B | $1.79B | $2.50B | $2.89B | $2.03B | $2.01B | $2.35B | $1.67B | $1.91B | $1.69B | $1.43B | $2.62B | $1.69B | $1.66B | $1.59B | $2.56B | $2.07B |
| High Forecast | $2.49B | $1.74B | $1.68B | $1.60B | $2.45B | $1.69B | $1.61B | $4.81B | $2.53B | $1.73B | $1.68B | $3.80B | $2.56B | $1.82B | $1.82B | $3.01B | $2.93B | $2.06B | $2.04B | $2.82B | $2.01B | $1.94B | $1.72B | $1.46B | $2.66B | $1.71B | $1.69B | $1.62B | $2.60B | $2.48B |
| Low Forecast | $2.38B | $1.67B | $1.61B | $1.53B | $2.34B | $1.67B | $1.60B | $3.21B | $2.53B | $1.71B | $1.62B | $2.54B | $1.71B | $1.76B | $1.75B | $2.00B | $2.83B | $1.99B | $1.97B | $1.88B | $1.34B | $1.88B | $1.66B | $1.41B | $2.57B | $1.66B | $1.63B | $1.56B | $2.50B | $1.65B |
| Surprise % | - | - | - | - | - | - | - | - | 0.89% | - | - | - | - | - | - | - | - | - | - | 0.85% | - | - | 1.01% | 1.21% | 0.87% | 1.17% | 1.16% | 1.15% | 0.90% | 0.89% |
Best Buy's average Quarter SG&A projection for May 24 is $4.01B, based on 7 Wall Street analysts, with a range of $3.21B to $4.81B. The forecast indicates a 76.90% rise compared to BBY last annual SG&A of $2.27B (Feb 24).
Best Buy EPS Forecast
| Feb 26 | Nov 25 | Aug 25 | May 25 | Feb 25 | Nov 24 | Aug 24 | May 24 | Feb 24 | Nov 23 | Aug 23 | May 23 | Feb 23 | Nov 22 | Aug 22 | May 22 | Feb 22 | Nov 21 | Aug 21 | May 21 | Feb 21 | Nov 20 | Aug 20 | May 20 | Feb 20 | Nov 19 | Aug 19 | May 19 | Feb 19 | May 18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 7 | 6 | 6 | 6 | 15 | 15 | 12 | 7 | 10 | 14 | 7 | 12 | 7 | 6 | 6 | 7 | 6 | 7 | 10 | 7 | 12 | 10 | 10 | 10 | 10 | 9 | 9 | 9 | 9 | 20 |
| EPS | - | - | - | - | - | - | - | - | $2.12 | - | - | - | - | - | - | - | - | - | - | $2.35 | - | - | $1.66 | $0.62 | $2.87 | $1.11 | $0.89 | $0.99 | $2.73 | $0.74 |
| Avg Forecast | $2.73 | $1.47 | $1.47 | $1.30 | $2.45 | $1.30 | $1.16 | $1.07 | $2.52 | $1.19 | $1.07 | $1.10 | $2.10 | $1.03 | $1.27 | $1.57 | $2.72 | $1.95 | $1.89 | $1.40 | $3.47 | $1.71 | $1.04 | $0.49 | $2.75 | $1.03 | $0.99 | $0.87 | $2.56 | $1.66 |
| High Forecast | $2.79 | $1.50 | $1.51 | $1.33 | $2.55 | $1.33 | $1.16 | $1.07 | $2.52 | $1.23 | $1.10 | $1.12 | $2.18 | $1.05 | $1.33 | $1.60 | $2.77 | $1.99 | $1.93 | $1.43 | $3.54 | $1.75 | $1.06 | $0.50 | $2.80 | $1.05 | $1.01 | $0.89 | $2.62 | $1.99 |
| Low Forecast | $2.64 | $1.42 | $1.43 | $1.26 | $2.30 | $1.26 | $1.15 | $1.07 | $2.52 | $1.11 | $1.04 | $1.06 | $2.03 | $1.01 | $1.21 | $1.53 | $2.65 | $1.90 | $1.85 | $1.37 | $3.38 | $1.67 | $1.01 | $0.48 | $2.68 | $1.01 | $0.96 | $0.85 | $2.50 | $1.33 |
| Surprise % | - | - | - | - | - | - | - | - | 0.84% | - | - | - | - | - | - | - | - | - | - | 1.67% | - | - | 1.60% | 1.25% | 1.04% | 1.07% | 0.90% | 1.14% | 1.07% | 0.45% |
According to 7 Wall Street analysts, Best Buy's projected average Quarter EPS for May 24 is $1.07, with a low estimate of $1.07 and a high estimate of $1.07. This represents a -49.30% decrease compared to BBY previous annual EPS of $2.12 (Feb 24).