Best Buy Co. Inc. ($BBY) Stock Forecast: Up 1.8% Today

What is Best Buy Co. Inc.?

A multinational consumer electronics retailer, Best Buy Co., Inc. (BBY:NYSE) offers a wide range of products, from appliances to entertainment and technology gadgets, in a competitive market landscape shaped by changing consumer preferences.

Why is Best Buy Co. Inc. going up?

BBY stock is up 1.8% on Feb 2, 2026 15:41

• BBY showed a bullish movement, despite challenges expected in FY26, such as tough year-over-year comparisons and a sluggish housing market.
• Bank of New York Mellon Corp increased its stake in BBY based on the strong earnings performance, with beats in both EPS and revenue.
• Market sentiment is mixed, demonstrated by analysts' varied price targets and an average "Hold" rating. However, BBY's strong margins and appealing dividend yield likely contributed to the positive stock movement.
• Despite concerns about market volatility and consumer uncertainty, investors are optimistic about Best Buy's potential for a comeback, supported by cash generation and strategic plans focused on AI/services.

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BBY Technical Analysis

BBY News

Best Buy faces challenging FY26 as tough comps, housing slump cloud sales outlook - analyst (BBY:NYSE)

J.P. Morgan analyst Christopher Horvers downgraded Best Buy (BBY) due to a challenging outlook for FY26. While the company may see a sales bump from tax refunds and hardware updates, these gains are unlikely to offset tough comparisons to 2025 and an anticipated sluggish housing market. The analyst highlighted concerns over rising PC memory costs, optimistic sales guidance for computing, mobile, and gaming, and ongoing consumer uncertainty impacting profitability and sales growth.

https://seekingalpha.com/news/4545362-best-buy-faces-challenging-fy26-as-tough-comps-housing-slump-cloud-sales-outlook---analyst

New Target CEO’s era officially begins

Michael Fiddelke officially began his role as Target's CEO on February 1st, succeeding Brian Cornell amidst fluctuating financial performance and increasing political pressure. Fiddelke plans to revitalize the company by investing $1 billion in store remodels, merchandise refreshes, technology expansion, and enhancing the in-store shopping experience. He faces the challenge of weak sales, competition, and public scrutiny over social issues and recent layoffs.

https://www.startribune.com/new-target-ceos-era-officially-begins/601572425

Best Buy Co., Inc. (NYSE:BBY) Given Average Recommendation of "Hold" by Brokerages

Best Buy Co., Inc. (NYSE:BBY) has an average "Hold" rating from 22 brokerages, with an average 12-month price target of $83.37. The company recently exceeded earnings expectations with $1.40 EPS and $9.67 billion in revenue, and it provides a substantial quarterly dividend of $0.95 per share. Analysts have adjusted price targets following recent reports, with a mix of "neutral," "in-line," and "buy" ratings from various firms.

https://www.marketbeat.com/instant-alerts/best-buy-co-inc-nysebby-given-average-recommendation-of-hold-by-brokerages-2026-02-02/

Bank of New York Mellon Corp Buys 39,026 Shares of Best Buy Co., Inc. $BBY

Bank of New York Mellon Corp increased its stake in Best Buy (NYSE:BBY) by 2.3% in the third quarter, acquiring an additional 39,026 shares, bringing its total holdings to 1,754,844 shares valued at $132.7 million. This increase follows Best Buy's strong earnings beat, reporting $1.40 EPS against an expected $1.31, and revenue of $9.67 billion, alongside a 5.8% dividend yield. Institutional investors collectively own 80.96% of the company's stock, though analysts have varying price targets and an average "Hold" rating for BBY.

https://www.marketbeat.com/instant-alerts/filing-bank-of-new-york-mellon-corp-buys-39026-shares-of-best-buy-co-inc-bby-2026-02-01/

Best Buy’s Stock Tries To Reboot: Can BBY Turn A Choppy Tape Into A Comeback Trade?

Best Buy's stock (BBY) is trading sideways as investors weigh cautious consumer spending against strong cash generation and AI/services-driven plans. Despite recent choppiness, analyst calls, resilient margins, and an attractive dividend yield are keeping optimists engaged. The company's one-year performance has shown a 10-15% gain before dividends, with total returns closer to the mid-teens percentage when dividends are included, highlighting that patience has been rewarded despite stock volatility.

https://www.ad-hoc-news.de/boerse/news/ueberblick/best-buy-s-stock-tries-to-reboot-can-bby-turn-a-choppy-tape-into-a/68536200

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Best Buy Co. Inc. Price History

09.00.2026 - BBY Stock was down 2.8%

• Best Buy Co., Inc. (BBY) faced a bearish market movement today despite positive trends in the retail sector.
• The growth in online holiday season sales, especially in electronics, may have influenced investors to focus more on e-commerce giants, resulting in a decline in traditional brick-and-mortar retailers like BBY.
• The increase in Costco's stock value following robust December sales could have also shifted attention away from BBY, leading to a decrease in its stock price.
• Institutional investors boosting their investment in BBY might suggest a long-term belief in the company, indicating that today's bearish movement could be a short-term market response rather than a reflection of the company's underlying strength.

08.00.2026 - BBY Stock was up 5.5%

• Robeco Institutional Asset Management B.V. significantly increased its stake in Best Buy Co., Inc., acquiring over 200,000 additional shares, indicating high confidence in the company's future performance.
• Despite lagging behind competitors on Wednesday, the stock bounced back strongly, possibly influenced by the increased stake from institutional investors like Robeco Institutional Asset Management B.V.
• The positive market movement may also be linked to the overall optimistic sentiment in the consumer electronics sector, with investors anticipating the company's growth prospects and market resilience.
• The relocation of Sprouts Farmers Market to a former Bed Bath & Beyond location may have indirectly affected investor sentiment, focusing attention on the retail sector and potentially benefiting companies like Best Buy Co., Inc.

29.07.2025 - BBY Stock was up 5.1%

• Best Buy's Q2 earnings surpassed expectations, seeing a 1.6% increase in revenues and strong online growth, particularly in gaming, computing, and mobile sales.
• The company's performance was boosted by a 5.1% rise in online sales, demonstrating its agility in adapting to evolving consumer preferences.
• Despite margin pressures from shifting product mixes and tariff uncertainties, Best Buy's modest sales recovery and outperformance of revenue and earnings projections have driven a bullish trend in its stock price today.

25.10.2025 - BBY Stock was up 3.8%

• BBY reported third-quarter earnings that surpassed expectations, with sales increasing by 2.4% year over year, leading to a positive sentiment among investors.
• The company's strong performance was driven by consumers upgrading their tech devices and splurging on new electronics, indicating a growing demand for BBY's products.
• Analysts revised their expectations ahead of the earnings release, anticipating an increase in quarterly earnings per share, which likely contributed to the bullish movement in the stock.
• Overall, the market reacted positively to BBY's solid financial results and optimistic sales forecast, propelling the stock to a bullish trajectory.

25.10.2025 - BBY Stock was up 3.8%

• Best Buy (BBY) had a notable bullish movement today.
• The company posted third-quarter earnings that surpassed expectations, with sales climbing 2.4% year over year to $9.67 billion, exceeding the consensus.
• Third-quarter comparable sales for Best Buy also showed a 2.7% year-over-year growth, signaling strong consumer interest in tech upgrades and devices.
• The favorable earnings report and the company's decision to raise its sales forecast mirror the increasing trend of consumer tech upgrades and purchases, underscoring Best Buy's success in the market.

16.06.2025 - BBY Stock was down 5.0%

• Best Buy (BBY) experienced a strong bearish movement today.
• The news about GameStop's decline in hardware and software sales could have negatively impacted the sentiment towards tech retail companies, including Best Buy.
• Investors might be concerned about the shifting consumer preferences towards digital downloads and online shopping, which could be affecting traditional brick-and-mortar retailers like Best Buy.
• The market might be interpreting GameStop's challenges as a broader industry trend, leading to a sell-off in related stocks like Best Buy.

21.10.2025 - BBY Stock was up 5.3%

• Strong bullish movement in BBY stock likely due to positive market sentiment and anticipation of strong Q3 earnings.
• Analyst forecasts and expectations of earnings growth for Best Buy have fueled investor confidence in the company's performance.
• The combination of positive key metrics and potential earnings beat has attracted buyers, driving up the stock price.
• Investors are optimistic about Best Buy's ability to capitalize on consumer demand for electronics and appliances, leading to the bullish market movement.

12.11.2025 - BBY Stock was down 1.7%

• The bearish movement in Best Buy's stock today could be attributed to a reduction in stake by a major investor in the second quarter, signaling a lack of confidence in its future performance.
• Despite beating consensus estimates in its recent quarterly earnings, the slight net sales increase and notable insider selling may have contributed to investor concerns, leading to the bearish trend.
• Analysts maintaining a "Hold" rating on Best Buy with a consensus target price of $84.47 could also be influencing investor sentiment, causing a downward pressure on the stock.
• The overall market sentiment towards Best Buy seems cautious, with investors closely monitoring the company's performance and future growth prospects amidst the competitive retail landscape.

28.07.2025 - BBY Stock was down 3.7%

• Best Buy exceeded revenue and earnings expectations for the quarter, yet the stock saw a bearish movement.
• The uncertainty surrounding tariffs and their impact on the company's turnaround efforts may have contributed to the negative market sentiment.
• Despite strong online sales growth and performance in key product categories, investors might be cautious given economic uncertainty and market volatility.
• Market reaction could also be influenced by profit-taking behavior post the recent earnings beat, as investors reassess their positions in the stock.

19.07.2025 - BBY Stock was up 5.1%

• Best Buy's decision to launch a third-party marketplace indicates a strategic move to diversify its product offerings and potentially attract more customers.
• By expanding its assortment through third-party sellers, Best Buy aims to drive higher profits and tap into additional revenue streams.
• This move could also help Best Buy differentiate itself from competitors and enhance its position in the market, leading to increased investor confidence and a bullish movement in its stock price today.

02.01.2026 - BBY Stock was up 1.8%

• BBY showed a bullish movement, despite challenges expected in FY26, such as tough year-over-year comparisons and a sluggish housing market.
• Bank of New York Mellon Corp increased its stake in BBY based on the strong earnings performance, with beats in both EPS and revenue.
• Market sentiment is mixed, demonstrated by analysts' varied price targets and an average "Hold" rating. However, BBY's strong margins and appealing dividend yield likely contributed to the positive stock movement.
• Despite concerns about market volatility and consumer uncertainty, investors are optimistic about Best Buy's potential for a comeback, supported by cash generation and strategic plans focused on AI/services.

02.11.2025 - BBY Stock was down 5.1%

• The acquisition of Village Pointe by Federal Realty Investment Trust for $153.3 million might have signaled potential challenges in the retail sector, impacting investor sentiment towards Best Buy.
• The appointment of Dylan Jadeja, CEO of Riot Games, to Best Buy's Board of Directors could have raised concerns among investors about the company's strategic direction, leading to a sell-off in the stock.
• Investors may be interpreting Jadeja's appointment as a signal of potential shifts in Best Buy's focus towards digital commerce and omnichannel experiences, causing uncertainty and contributing to the bearish market movement.
• The Hold rating from analysts and the price target of $82.00 for Best Buy's stock could have also influenced the negative market sentiment, prompting investors to reevaluate their positions in the company.