Best Buy Stock Forecast

Stock Price Forecast

The 15 analysts with 12-month price forecasts for Best Buy stock have an average target of 84.27, with a low estimate of 65 and a high estimate of 101. The average target predicts an increase of 10.66% from the current stock price of 76.15.

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	$65	$84.27	$86	$101
Change	-14.64%	+10.66%	+12.93%	+32.63%

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	Nov '23	Dec '23	Jan '24	Feb '24	Mar '24	Apr '24
Strong Buy	3	4	4	4	4	4
Buy	0	0	0	0	2	2
Hold	10	10	9	8	8	8
Sell	1	1	0	0	0	0
Strong Sell	1	1	1	1	1	1
Total	15	16	14	13	15	15

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Christopher Horvers JP Morgan	JP Morgan	Hold → Buy Upgrades $89 → $101	Hold → Buy	Upgrades	$89 → $101	+32.63%	Mar 22, 2024
Joseph Feldman Telsey Advisory Group	Telsey Advisory Group	Hold → Buy Upgrades $85 → $95	Hold → Buy	Upgrades	$85 → $95	+24.75%	Mar 20, 2024
Simeon Gutman Morgan Stanley	Morgan Stanley	Hold Maintains $80 → $82	Hold	Maintains	$80 → $82	+7.68%	Mar 1, 2024
Steven Zaccone Citigroup	Citigroup	Strong Sell Maintains $67 → $76	Strong Sell	Maintains	$67 → $76	-0.20%	Mar 1, 2024
Michael Lasser UBS	UBS	Hold Maintains $82 → $85	Hold	Maintains	$82 → $85	+11.62%	Mar 1, 2024

More Analyst Ratings

Financial Forecast

Revenue This Year

42.46B

from 43.45B

-2.28%

from 43.45B

Revenue Next Year

43.34B

from 42.46B

2.07%

from 42.46B

EPS This Year

6.10

from 5.68

7.33%

from 5.68

EPS Next Year

6.80

from 6.10

11.54%

from 6.10

Year	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028
Revenue	43.64B	47.26B	51.76B	46.30B	43.45B	42.46B	43.34B	44.65B	47.40B	48.01B
Revenue Growth	1.77%	8.30%	9.52%	-10.55%	-6.15%	-2.28%	2.07%	3.03%	6.15%	1.28%
EPS	5.75	6.84	9.84	6.29	5.68	6.10	6.80	7.77	10.18	12.23
EPS Growth	10.58%	18.96%	43.86%	-36.08%	-9.70%	7.33%	11.54%	14.31%	30.97%	20.14%
No. Analysts	-	-	-	-	-	30	28	13	2	2

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

Revenue Forecast

Revenue	2024	2025	2026	2027	2028
High	45.0B	46.7B	48.3B	50.6B	51.5B
Avg	42.5B	43.3B	44.7B	47.4B	48.0B
Low	40.4B	40.7B	42.0B	44.3B	45.1B

Revenue Growth

Revenue Growth	2024	2025	2026	2027	2028
High	3.6%	10.0%	11.5%	13.4%	8.7%
Avg	-2.3%	2.1%	3.0%	6.2%	1.3%
Low	-6.9%	-4.1%	-3.0%	-0.7%	-4.9%

EPS Forecast

EPS	2024	2025	2026	2027	2028
High	6.65	7.54	8.97	10.58	12.72
Avg	6.10	6.80	7.77	10.18	12.23
Low	5.64	6.04	7.01	9.88	11.87

EPS Growth

EPS Growth	2024	2025	2026	2027	2028
High	17.1%	23.7%	31.9%	36.2%	24.9%
Avg	7.3%	11.5%	14.3%	31.0%	20.1%
Low	-0.8%	-1.0%	3.0%	27.1%	16.6%

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.