Best Buy Stock Forecast

Stock Price Forecast

The 15 analysts with 12-month price forecasts for Best Buy stock have an average target of 90.53, with a low estimate of 65 and a high estimate of 106. The average target predicts an increase of 2.18% from the current stock price of 88.60.

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	$65	$90.53	$90	$106
Change	-26.64%	+2.18%	+1.58%	+19.64%

Analyst Ratings

The average analyst rating for Best Buy stock from 15 stock analysts is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.

Recommendation Trends

Rating	Feb '24	Mar '24	Apr '24	May '24	Jun '24	Jul '24
Strong Buy	4	4	4	4	7	7
Buy	0	2	2	2	2	2
Hold	8	8	8	7	6	6
Sell	0	0	0	0	0	0
Strong Sell	1	1	1	1	0	0
Total	13	15	15	14	15	15

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Scot Ciccarelli Truist Securities	Truist Securities	Hold Maintains $86	Hold	Maintains	$86	-2.93%	Jul 1, 2024
Michael Lasser UBS	UBS	Hold → Strong Buy Upgrades $85 → $106	Hold → Strong Buy	Upgrades	$85 → $106	+19.64%	Jun 17, 2024
Anthony Chukumba Loop Capital	Loop Capital	Strong Buy Maintains $93 → $100	Strong Buy	Maintains	$93 → $100	+12.87%	Jun 7, 2024
Steven Zaccone Citigroup	Citigroup	Strong Sell → Strong Buy Upgrades $67 → $100	Strong Sell → Strong Buy	Upgrades	$67 → $100	+12.87%	Jun 3, 2024
Michael Baker DA Davidson	DA Davidson	Strong Buy Maintains $90 → $95	Strong Buy	Maintains	$90 → $95	+7.22%	May 31, 2024

More Analyst Ratings

Financial Forecast

Revenue This Year

42.28B

from 43.45B

-2.69%

from 43.45B

Revenue Next Year

43.20B

from 42.28B

2.17%

from 42.28B

EPS This Year

6.16

from 5.68

8.45%

from 5.68

EPS Next Year

6.82

from 6.16

10.67%

from 6.16

Year	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028
Revenue	43.64B	47.26B	51.76B	46.30B	43.45B	42.28B	43.20B	44.62B	45.31B	46.61B
Revenue Growth	1.77%	8.30%	9.52%	-10.55%	-6.15%	-2.69%	2.17%	3.30%	1.53%	2.89%
EPS	5.75	6.84	9.84	6.29	5.68	6.16	6.82	7.86	9.79	11.92
EPS Growth	10.58%	18.96%	43.86%	-36.08%	-9.70%	8.45%	10.67%	15.34%	24.46%	21.78%
Forward PE	-	-	-	-	-	14.38	13.00	11.27	9.05	7.43
No. Analysts	-	-	-	-	-	30	29	10	2	2

Historical EPS numbers are GAAP, while forecasted numbers may be non-GAAP.

Revenue Forecast

Revenue	2024	2025	2026	2027	2028
High	44.5B	46.4B	48.4B	48.5B	50.4B
Avg	42.3B	43.2B	44.6B	45.3B	46.6B
Low	40.4B	40.6B	42.0B	42.7B	43.4B

Revenue Growth

Revenue Growth	2024	2025	2026	2027	2028
High	2.4%	9.8%	12.0%	8.6%	11.2%
Avg	-2.7%	2.2%	3.3%	1.5%	2.9%
Low	-7.0%	-3.9%	-2.8%	-4.3%	-4.2%

EPS Forecast

EPS	2024	2025	2026	2027	2028
High	6.59	7.53	8.56	10.17	12.39
Avg	6.16	6.82	7.86	9.79	11.92
Low	5.70	6.04	7.07	9.50	11.56

EPS Growth

EPS Growth	2024	2025	2026	2027	2028
High	16.1%	22.2%	25.5%	29.4%	26.6%
Avg	8.5%	10.7%	15.3%	24.5%	21.8%
Low	0.4%	-2.0%	3.6%	20.8%	18.2%

Sources: Price targets and analyst ratings provided by Benzinga. Revenue and EPS forecast data provided by Finnhub. The data is sourced from Wall Street analysts. Data disclaimer.