Best Buy (BBY) Stock Forecast, Price Target & Predictions
BBY Stock Forecast
Best Buy stock forecast is as follows: an average price target of $96.00 (represents a -2.49% downside from BBY’s last price of $98.45) 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 $96.00 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 -2.49% downside from BBY's last price of $98.45.
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%), 21 'Buy' (70.00%), 8 'Hold' (26.67%), 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 |
|---|---|---|---|---|---|---|
| Aug 30, 2024 | Seth Basham | Wedbush | $95.00 | $100.00 | -5.00% | -3.50% |
| Aug 30, 2024 | Anthony Chukumba | Loop Capital Markets | $110.00 | $100.00 | 9.99% | 11.73% |
| Aug 30, 2024 | Greg Melich | Evercore ISI | $94.00 | $100.18 | -6.17% | -4.52% |
| Aug 30, 2024 | Peter Keith | Piper Sandler | $114.00 | $100.18 | 13.80% | 15.79% |
| Aug 30, 2024 | Seth Sigman | Barclays | $95.00 | $100.18 | -5.17% | -3.50% |
| Aug 29, 2024 | Jonathan Matuszewski | Jefferies | $116.00 | $99.64 | 16.42% | 17.83% |
| Aug 27, 2024 | Elizabeth Suzuki | Bank of America Securities | $70.00 | $88.91 | -21.27% | -28.90% |
| Jun 17, 2024 | Michael Lasser | UBS | $106.00 | $87.21 | 21.55% | 7.67% |
| Jun 07, 2024 | Anthony Chukumba | Loop Capital Markets | $100.00 | $88.82 | 12.59% | 1.57% |
| May 31, 2024 | Scot Ciccarelli | Truist Financial | $86.00 | $81.55 | 5.46% | -12.65% |
The latest Best Buy stock forecast, released on Aug 30, 2024 by Seth Basham from Wedbush, set a price target of $95.00, which represents a -5.00% decrease from the stock price at the time of the forecast ($100.00), and a -3.50% decrease from BBY last price ($98.45).
Best Buy Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | 7 | 8 | 21 |
| Avg Price Target | $99.14 | $100.00 | $91.95 |
| Last Closing Price | $98.45 | $98.45 | $98.45 |
| Upside/Downside | 0.70% | 1.57% | -6.60% |
In the current month, the average price target of Best Buy stock is $99.14, according to 7 Wall Street analysts offering twelve months forecast. The average price target represents a 0.70% increase as opposed to Best Buy's last price of $98.45. This month's average price target is down -0.86% compared to last quarter, and up 7.82% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| 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 |
| Aug 30, 2024 | Citigroup | Positive | Positive | Hold |
| Aug 30, 2024 | Barclays | Equal-Weight | Equal-Weight | Hold |
| Aug 27, 2024 | Bank of America Securities | Buy | Buy | Hold |
| Aug 23, 2024 | UBS | Buy | Buy | Hold |
Best Buy's last stock rating was published by Telsey Advisory on Aug 30, 2024. The company gave BBY a "Outperform" 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 | $14.05B | $9.82B | $9.50B | $9.04B | $13.84B | $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 | $14.23B | $9.95B | $9.62B | $9.16B | $14.07B | $9.71B | $9.36B | $9.08B | $14.75B | $9.96B | $9.65B | $9.65B | $14.92B | $10.45B | $10.43B | $10.58B | $16.89B | $11.86B | $11.77B | $10.59B | $17.51B | $11.20B | $9.91B | $8.39B | $15.33B | $9.88B | $9.73B | $9.31B | $14.95B | $15.54B |
| Low Forecast | $13.80B | $9.65B | $9.33B | $8.88B | $13.46B | $9.58B | $9.07B | $8.80B | $14.30B | $9.84B | $9.35B | $9.36B | $14.46B | $10.13B | $10.16B | $10.27B | $16.39B | $11.50B | $11.42B | $10.27B | $16.99B | $10.87B | $9.61B | $8.14B | $14.87B | $9.58B | $9.44B | $9.03B | $14.51B | $10.36B |
| # Analysts | 7 | 6 | 11 | 6 | 14 | 14 | 8 | 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 $8.80B, and a high forecast of $9.08B. 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 | 11 | 6 | 14 | 14 | 8 | 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 | $945.77M | $661.23M | $639.44M | $608.69M | $932.01M | $649.07M | $621.64M | $1.65B | $980.09M | $665.73M | $640.93M | $1.30B | $991.14M | $541.73M | $691.71M | $701.02M | $807.14M | $492.48M | $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 | $958.36M | $670.03M | $647.95M | $616.79M | $947.57M | $653.78M | $629.92M | $1.98B | $993.13M | $670.44M | $649.46M | $1.56B | $1.00B | $650.07M | $702.03M | $712.48M | $968.57M | $590.97M | $792.74M | $1.50B | $737.79M | $754.10M | $667.09M | $564.78M | $1.03B | $665.23M | $654.89M | $626.62M | $1.01B | $772.39M |
| Low Forecast | $929.19M | $649.64M | $628.23M | $598.02M | $906.31M | $645.03M | $610.75M | $1.32B | $962.91M | $662.36M | $629.69M | $1.04B | $973.76M | $433.38M | $683.82M | $691.16M | $645.71M | $393.98M | $769.05M | $1.00B | $491.86M | $731.56M | $647.15M | $547.90M | $1.00B | $645.35M | $635.32M | $607.89M | $976.67M | $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 | 11 | 6 | 14 | 14 | 8 | 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 | $592.09M | $317.61M | $318.99M | $282.95M | $532.30M | $280.97M | $251.53M | $1.00B | $548.13M | $258.74M | $232.87M | $791.89M | $456.87M | $390.60M | $275.67M | $340.76M | $454.59M | $355.09M | $410.64M | $808.90M | $308.20M | $371.58M | $224.57M | $107.11M | $595.87M | $224.00M | $214.37M | $188.13M | $555.71M | $296.20M |
| High Forecast | $602.33M | $323.10M | $324.51M | $287.85M | $556.11M | $287.46M | $255.88M | $1.20B | $557.62M | $267.29M | $236.90M | $950.27M | $464.78M | $468.71M | $281.01M | $348.00M | $545.50M | $426.10M | $420.38M | $970.69M | $369.84M | $380.39M | $229.89M | $109.64M | $609.99M | $229.31M | $219.45M | $192.59M | $568.89M | $355.44M |
| Low Forecast | $578.59M | $310.37M | $311.72M | $276.51M | $499.85M | $272.33M | $245.80M | $801.39M | $535.64M | $241.63M | $227.56M | $633.51M | $446.46M | $312.48M | $271.58M | $334.53M | $363.67M | $284.07M | $404.13M | $647.12M | $246.56M | $365.69M | $221.00M | $105.41M | $586.42M | $220.44M | $210.97M | $185.15M | $546.90M | $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 | 11 | 6 | 14 | 14 | 8 | 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 | $2.41B | $1.68B | $1.61B | $4.01B | $2.53B | $1.72B | $1.66B | $3.17B | $2.56B | $1.07B | $1.79B | $1.81B | $1.94B | $971.89M | $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 | $2.48B | $1.73B | $1.67B | $1.59B | $2.45B | $1.69B | $1.63B | $4.81B | $2.57B | $1.73B | $1.68B | $3.80B | $2.60B | $1.28B | $1.81B | $1.84B | $2.33B | $1.17B | $2.05B | $2.82B | $2.01B | $1.95B | $1.72B | $1.46B | $2.67B | $1.72B | $1.69B | $1.62B | $2.60B | $2.48B |
| Low Forecast | $2.40B | $1.68B | $1.62B | $1.55B | $2.34B | $1.67B | $1.58B | $3.21B | $2.49B | $1.71B | $1.63B | $2.54B | $2.52B | $855.27M | $1.77B | $1.79B | $1.55B | $777.51M | $1.99B | $1.88B | $1.34B | $1.89B | $1.67B | $1.42B | $2.59B | $1.67B | $1.64B | $1.57B | $2.52B | $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 | 11 | 6 | 14 | 14 | 8 | 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 | $1.46 | $1.47 | $1.30 | $2.45 | $1.29 | $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 | $2.77 | $1.49 | $1.49 | $1.33 | $2.56 | $1.32 | $1.18 | $1.09 | $2.57 | $1.23 | $1.09 | $1.12 | $2.14 | $1.05 | $1.29 | $1.61 | $2.78 | $2.00 | $1.94 | $1.44 | $3.55 | $1.75 | $1.06 | $0.51 | $2.81 | $1.06 | $1.01 | $0.89 | $2.62 | $1.99 |
| Low Forecast | $2.67 | $1.43 | $1.44 | $1.27 | $2.30 | $1.25 | $1.13 | $1.05 | $2.47 | $1.11 | $1.05 | $1.07 | $2.06 | $1.01 | $1.25 | $1.54 | $2.68 | $1.92 | $1.86 | $1.38 | $3.41 | $1.69 | $1.02 | $0.49 | $2.70 | $1.02 | $0.97 | $0.85 | $2.52 | $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 $1.05 and a high estimate of $1.09. This represents a -49.30% decrease compared to BBY previous annual EPS of $2.12 (Feb 24).
Best Buy Peer Comparison by Price Target
BBY Forecast FAQ
Is Best Buy a good buy?
Yes, according to 30 Wall Street analysts, Best Buy (BBY) is considered a 'Buy'. The rating consensus is based on 1 'Strong Buy' and 21 'Buy' recommendations, accounting for 73.33% of BBY's total ratings.
What is BBY's price target?
Best Buy (BBY) average price target is $96 with a range of $70 to $140, implying a -2.49% from its last price of $98.45. The data is based on 30 Wall Street analysts who provided a twelve-month price target estimate in the last three months.
Will Best Buy stock go up soon?
According to Wall Street analysts' prediction for BBY stock, the company can go down by -2.49% (from the last price of $98.45 to the average price target of $96), up by 42.20% based on the highest stock price target, and down by -28.90% based on the lowest stock price target.
Can Best Buy stock reach $150?
BBY's average twelve months analyst stock price target of $96 does not support the claim that Best Buy can reach $150 in the near future.
What is Best Buy's current price target trend?
7 Wall Street analysts forecast a $99.14 price target for Best Buy (BBY) this month, up 0.70% from its last price of $98.45. Compared to the last 3 and 12 months, the average price target increased by 1.57% and decreased by -6.60%, respectively.
What are Best Buy's analysts' financial forecasts?
Best Buy's analysts financial forecasts for the fiscal year (Feb 2025) are as follows: average revenue is $41.67B (high $42.22B, low $40.91B), average EBITDA is $3.85B (high $4.21B, low $3.48B), average net income is $2.07B (high $2.3B, low $1.82B), average SG&A $9.7B (high $10.58B, low $8.79B), and average EPS is $5.98 (high $6.16, low $5.74). BBY's analysts financial forecasts for the fiscal year (Feb 2026) are as follows: average revenue is $42.4B (high $42.97B, low $41.66B), average EBITDA is $2.86B (high $2.89B, low $2.81B), average net income is $1.51B (high $1.54B, low $1.48B), average SG&A $7.38B (high $7.48B, low $7.25B), and average EPS is $6.96 (high $7.08, low $6.8).
Did the BBY's actual financial results beat the analysts' financial forecasts?
Based on Best Buy's last annual report (Feb 2024), the company's revenue was $43.45B, which missed the average analysts forecast of $43.49B by -0.09%. Apple's EBITDA was $2.65B, missing the average prediction of $3.59B by -26.15%. The company's net income was $1.24B, missing the average estimation of $1.83B by -32.25%. Apple's SG&A was $7.82B, missing the average forecast of $9.08B by -13.92%. Lastly, the company's EPS was $5.68, missing the average prediction of $5.89 by -3.53%. In terms of the last quarterly report (Feb 2024), Best Buy's revenue was $14.65B, beating the average analysts' forecast of $14.56B by 0.62%. The company's EBITDA was $951M, missing the average prediction of $980.09M by -2.97%. Best Buy's net income was $460M, missing the average estimation of $548.13M by -16.08%. The company's SG&A was $2.27B, missing the average forecast of $2.53B by -10.54%. Lastly, the company's EPS was $2.12, missing the average prediction of $2.52 by -16.03%