Best Buy Co. Inc. ($BBY) Stock Forecast: Down 7.3% Today

What is Best Buy Co. Inc.?

Best Buy Co. (NYSE: BBY) is a multinational consumer electronics retailer headquartered in the United States. The company offers a wide range of products including electronics, appliances, and entertainment products. Today, the stock BBY experienced a strong bearish movement in the market.

Why is Best Buy Co. Inc. going down?

BBY stock is down 7.3% on Nov 26, 2024 17:46

• Best Buy Co. reported fiscal 2025 third-quarter adjusted EPS of $1.26, missing the consensus of $1.29. This disappointing earnings result likely contributed to the bearish movement in the stock.
• The enterprise comparable sales fell by 2.9%, and quarterly sales decreased to $9.45 billion from $9.76 billion a year ago, missing analyst expectations. These lower-than-expected sales figures could have further fueled the bearish sentiment.
• Best Buy also cut its full-year sales forecast due to softer demand for consumer electronics, indicating a challenging market environment for the company. This downward revision likely added to the negative investor sentiment.
• The options market showed a mix of bullish and bearish trades, with a slightly higher percentage of traders displaying bullish tendencies. However, the overall disappointing earnings and sales performance overshadowed any potential positive sentiment, leading to the bearish movement in the stock.

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BBY Technical Analysis

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Best Buy Co's Options Frenzy: What You Need to Know - Best Buy Co ( NYSE:BBY )

Financial giants have made a conspicuous bullish move on Best Buy Co. Our analysis of options history for Best Buy Co BBY revealed 11 unusual trades. Delving into the details, we found 63% of traders were bullish, while 36% showed bearish tendencies.

https://www.benzinga.com/insights/options/24/11/42194278/best-buy-cos-options-frenzy-what-you-need-to-know

Why Is Best Buy Stock Trading Lower On Tuesday? - Best Buy Co ( NYSE:BBY )

On Tuesday, Best Buy Co., Inc BBY reported fiscal 2025 third-quarter adjusted EPS of $1.26, missing the consensus of $1.29. Enterprise comparable sales fell 2.9%. Quarterly sales decreased to $9.45 billion from $9.76 billion a year ago, missing the analyst consensus of $9.63 billion.

https://www.benzinga.com/news/earnings/24/11/42188320/best-buy-says-q3-sales-little-softer-than-expected-on-lower-demand-for-appliances-and-gaming-trims-

Best Buy ( BBY ) Q3 Earnings and Revenues Lag Estimates

Best Buy (BBY) delivered earnings and revenue surprises of -3.08% and 1.93%, respectively, for the quarter ended October 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2375154/best-buy-bby-q3-earnings-and-revenues-lag-estimates

Best Buy cuts full-year sales forecast due to softer demand for consumer electronics

Best Buy is waiting for a wave of shoppers to replace old devices and upgrade to new, higher-tech ones after an approximately two-year sales slump.

https://www.cnbc.com/2024/11/26/best-buy-bby-earnings-q3-2025.html

Best Buy, HP And 3 Stocks To Watch Heading Into Tuesday - Best Buy Co ( NYSE:BBY ) , Dell Technologies ( NYSE:DELL )

With U.S. stock futures trading slightly higher this morning on Tuesday, some of the stocks that may grab investor focus today are as follows: Wall Street expects Best Buy Co., Inc. BBY to report quarterly earnings at $1.29 per share on revenue of $9.63 billion before the opening bell, according ...

https://www.benzinga.com/news/earnings/24/11/42181574/best-buy-hp-and-3-stocks-to-watch-heading-into-tuesday

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Best Buy Co. Inc. Price History

29.07.2024 - BBY Stock was up 15.2%

• The surge in Best Buy's stock to its highest point in over two years was driven by a strong Q2 earnings report, demonstrating robust financial performance.
• Meeting revenue expectations and an increase in non-GAAP profit per share played a key role in the notable rise in the stock price.
• Positive earnings results enhanced investor confidence in Best Buy, resulting in a bullish market trend.
• The market's favorable response to the news underscores the influence of solid financial performance on driving stock prices upward.

29.07.2024 - BBY Stock was up 14.6%

• BBY's Q2 earnings showed revenue in line with forecasts, but a higher than expected non-GAAP profit of $1.34 per share caused the stock to surge.
• Although facing a 3.1% revenue decline from the previous year, Best Buy managed to increase its profit, demonstrating robust financial performance and operational efficiencies.
• The stock's bullish movement can be attributed to exceeding earnings and profit projections despite reduced revenues, instilling investor confidence.
• Best Buy's ability to outperform earnings and revenue expectations underscores its resilience and adaptability in challenging market conditions, bolstering favorable market sentiment.

26.10.2024 - BBY Stock was down 8.7%

• Best Buy (BBY) reported lower-than-expected fiscal 2025 third-quarter earnings per share and a decline in enterprise comparable sales, leading to a bearish movement in the stock.
• The company also cut its full-year sales forecast due to softer demand for consumer electronics, indicating a challenging market environment.
• Analysts and investors are closely watching Best Buy's performance, with concerns about its growth potential in the face of changing consumer preferences and market dynamics.
• The combination of missed earnings expectations, reduced sales forecast, and cautious analyst ratings has likely contributed to the bearish sentiment surrounding Best Buy's stock today.

26.10.2024 - BBY Stock was down 7.3%

• Best Buy Co. reported fiscal 2025 third-quarter adjusted EPS of $1.26, missing the consensus of $1.29. This disappointing earnings result likely contributed to the bearish movement in the stock.
• The enterprise comparable sales fell by 2.9%, and quarterly sales decreased to $9.45 billion from $9.76 billion a year ago, missing analyst expectations. These lower-than-expected sales figures could have further fueled the bearish sentiment.
• Best Buy also cut its full-year sales forecast due to softer demand for consumer electronics, indicating a challenging market environment for the company. This downward revision likely added to the negative investor sentiment.
• The options market showed a mix of bullish and bearish trades, with a slightly higher percentage of traders displaying bullish tendencies. However, the overall disappointing earnings and sales performance overshadowed any potential positive sentiment, leading to the bearish movement in the stock.

29.07.2024 - BBY Stock was up 14.1%

• Best Buy's stock demonstrated a robust upward movement today.
• The increase in stock price is linked to the company's strong second-quarter earnings, surpassing EPS expectations and revising their full-year guidance.
• Encouraging signs of demand stabilization, alongside revenue and EPS outperformance, bolstered investor confidence in Best Buy.
• Analysts are bullish on the future prospects of Best Buy shares, prompting a rise in price targets and fostering positive sentiment in the market.

29.07.2024 - BBY Stock was up 12.7%

• Best Buy's Q2 earnings revealed revenue in line with forecasts, a slight year-on-year decrease, but a significant improvement in profit per share.
• Exceeding estimates, the EPS of $1.34 and revenue of $9.29 billion matched analyst projections, prompting a rise in the stock price.
• Despite a revenue decline, Best Buy saw profit growth in Q2 2025, demonstrating its resilience and ability to sustain profitability.
• The favorable earnings report and optimistic future outlook, which included an upward revision of the annual profit forecast, drove the bullish momentum in Best Buy's stock price.

30.04.2024 - BBY Stock was up 13.2%

• Best Buy (BBY) experienced a strong bullish movement of over 12% post-earnings.
• The company reported better-than-expected earnings for its fiscal first quarter, with adjusted EPS of $1.20 surpassing street estimates.
• Despite a slight miss in quarterly sales, the robust earnings and optimistic outlook resulted in a stock price surge.
• Investors reacted positively to the news, propelling the stock price higher as they focused on the earnings beat and potential future growth prospects for Best Buy.

30.04.2024 - BBY Stock was up 12.7%

• BBY stock experienced a strong bullish movement today.
• Best Buy Co exceeded earnings per share (EPS) estimates for the first quarter of 2025, reporting $1.20 compared to the expected $1.08.
• Despite falling slightly short of revenue estimates, the company's performance was bolstered by strong demand for services, membership, and laptops.
• The positive earnings report from Best Buy Co stood out against the backdrop of prevailing market concerns about slower economic growth and weak consumer spending, which led to a downturn in US stock indexes.

30.04.2024 - BBY Stock was up 10.2%

• BBY exceeded expectations in its fiscal first-quarter earnings report, achieving an adjusted EPS of $1.20, higher than the projected $1.08.
• While the quarterly sales of $8.85 billion fell short of analyst forecasts, the strong earnings performance and CEO's optimism regarding the business's positions in computing and appliances resonated well with investors.
• Despite a 6.1% drop in comparable sales, the market reacted positively to the earnings results, leading to a rise in Best Buy's stock value.
• Best Buy's favorable performance, especially when compared to the negative forecast from Salesforce, is believed to have influenced the bullish movement of BBY's stock.

30.04.2024 - BBY Stock was up 11.6%

• Best Buy's stock surged 11% today despite a sales decline, following an earnings report that beat profit estimates.
• The positive earnings were fueled by strong performance in services, membership, and laptop demand, offsetting slowing sales.
• In an overall slightly negative market sentiment, Best Buy's earnings beat boosted consumer confidence and highlighted resilience in the consumer electronics sector.
• Best Buy's positive results contrasted with poor guidance from companies like Salesforce, emphasizing the impact of company-specific factors on stock movements.

30.04.2024 - BBY Stock was up 12.5%

• Best Buy (BBY) showed a strong bullish movement despite consecutive quarterly sales slumps, indicating resilience in the market.
• The earnings per share (EPS) report of $1.20 surpassed analyst expectations, contributing to the positive sentiment surrounding BBY stock.
• Although revenue expectations for Q1 2025 were not met, investors are optimistic about BBY's market performance and growth prospects, showcasing confidence in the company's strategic direction.
• The cautious consumer spending environment, reflected in the earnings results of Best Buy and other retailers, underlines that BBY's performance and future prospects continue to attract investor attention.

30.04.2024 - BBY Stock was up 12.6%

• Best Buy's stock surged over 12% following its earnings report, indicating strong investor confidence in the company's performance.
• Despite a revenue shortfall, Best Buy's Q1 earnings beat expectations, showcasing the company's ability to manage costs effectively.
• The contrasting performance of Best Buy and Kohl's Corp., with Best Buy reporting positive earnings while Kohl's experienced a significant decline, highlights the varying fortunes in the retail sector.
• Best Buy's extended streak of quarterly sales slumps, in conjunction with consumer cautious spending trends, underscores the importance of companies' strategic positioning and adaptability in navigating challenging economic environments.