In a report released today, Zachary Fadem from Wells Fargo maintained a Hold rating on Best Buy Co (BBY – Research Report), with a price target of $70.00. The company’s shares closed yesterday at $75.43.
According to TipRanks, Fadem is a 5-star analyst with an average return of 13.5% and a 64.24% success rate. Fadem covers the Consumer Cyclical sector, focusing on stocks such as O’Reilly Auto, Best Buy Co, and Domino’s Pizza.
Currently, the analyst consensus on Best Buy Co is a Hold with an average price target of $74.14, a -1.71% downside from current levels. In a report released on December 21, Truist Financial also maintained a Hold rating on the stock with a $68.00 price target.
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BBY market cap is currently $16.64B and has a P/E ratio of 13.33.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BBY in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Best Buy Co (BBY) Company Description:
Founded in 1966, Minnesota-based Best Buy Co., Inc. is a consumer electronics company, which provides consumer technology products and services in the US, Canada and Mexico. It operates in two business segments: Domestic and International.
Read More on BBY:
- Best Buy among Loop Capital’s favorite ideas for 2024 in Specialty Retail
- Apple (NASDAQ:AAPL) Takes on Watch Ban
- U.S. retail sales ex-autos grew 3.1% this holiday season, Mastercard estimates
- Vertex announces appointment of three new leaders
- Best Buy pricing gap with Amazon one of smallest in memory, says Loop Capital
