Best Buy Co., IncNYSE: BBY
Consumer Discretionary · Computer & Electronics Retail
$60.13
-0.60%
Vol: 1.7M
Research Digest
Friday, May 1, 2026
CEO succession plan: Jason Bonfig replaces Corie Barry effective Oct 31
Best Buy named Jason Bonfig (Chief Customer, Product & Fulfillment Officer) to succeed CEO Corie Barry effective October 31, 2026. Goldman Sachs downgraded stock citing rising memory costs and weak electronics demand. Q4 FY26 comps declined 0.8% but within guidance. Stock at $60.49, up 3% on April 30. Analyst consensus Buy with $76.28 PT (+26.19% upside). FY2026 revenue $41.7B. Bear case: margin pressure from higher costs.
Previous Market Intelligence
13 daysApr 30Best Buy names new CEO as Goldman Sachs downgrades on rising costs and margin pressuresMixed▶
Best Buy's board selected Jason Bonfig, Chief Customer, Product and Fulfillment Officer, as the next CEO following Corie Barry's departure at end of Q3 2026. Goldman Sachs downgraded the stock due to rising memory costs and competitive pressures, lowering price target to $59 from $76. The company generated $41.7B revenue in fiscal 2026 and operates 1,000+ North American stores. Despite the downgrade, 19 analysts maintain an average Buy rating with $76.28 price target (+26.19%), and recent earnings beat has supported positive trading momentum. Uber Eats expansion of retail returns is a positive partnership development.
Apr 16Goldman Sachs downgraded Best Buy to Sell on April 13 citing Memflation causing 15-20% PC/smartphone price hikesNegative▶
Goldman Sachs issued a rare double downgrade of Best Buy from Buy to Sell on April 13, citing concerns over memory supply constraints (Memflation) driving up consumer component costs. The analyst expects 15-20% price hikes for PCs and smartphones in H2 2026, creating a margin squeeze for a retailer deriving 47% of revenue from these categories. Best Buy declared a 1% dividend increase to $0.96/share payable April 14. The stock faces downward pressure as it approaches 52-week lows.
Apr 15Goldman Sachs downgraded Best Buy to Sell on April 13 citing weak sales outlook and rising memory costs.Negative▶
Goldman Sachs double-downgraded Best Buy from Buy to Sell with a price target of $59, down from $76, citing concerns over rising memory costs that could pressure margins and weaken PC demand. CEO Corie Barry noted that consumer demand for electronics remained lackluster during the gift-giving season. The company approved a 1% dividend increase to $0.96 per share payable on April 14. Q4 FY26 earnings beat on EPS ($2.61 vs. $2.47 expected) but missed on revenue.
Apr 14Goldman Sachs double-downgraded Best Buy to Sell from Buy on April 13, citing memory cost headwinds and margin compression.Negative▶
Goldman Sachs issued rare double downgrade on April 13, slashing price target from $76 to $59 (Sell rating). Best Buy faces margin compression with management guiding FY27 operating income rate to 4.3-4.4% (down from 5.0%). Q4 appliance comps fell 10.5% and consumer electronics fell 7.3%. Company reported Q4 adjusted EPS of $2.61 vs. $2.47 expected.
Apr 13Best Buy announced 1% dividend increase to $0.96 per share payable April 14, 2026.Neutral▶
Best Buy approved a 1% increase in quarterly cash dividend to $0.96. Q4 fiscal 2026 adjusted EPS of $2.61 versus $2.47 expected, while revenue was $13.81 billion vs $13.88 billion expected. CEO noted demand for consumer electronics remained lackluster during the holiday season. Median analyst target of $75.00 with Buy consensus.
Apr 10Best Buy declares $0.96 quarterly dividend; analyst consensus remains Buy with $78.58 price target despite mixed performance.Neutral▶
Best Buy declared a regular quarterly dividend of $0.96 per share, payable April 14, 2026. Stock gained 0.719% closing at $64.48. Analyst consensus from 18 analysts rates BBY as Buy with median target of $75 (ranging $60-$90). Fair value estimated at $84.19. The company expects computing growth from AI upgrade demand and 30 bps gross margin expansion.
Apr 9Best Buy reports weak growth outlook amid consumer value-seeking behavior.Negative▶
Best Buy reported Q4 2026 results with 1.2% YoY adjusted EPS increase but declining revenues. Company projects weak growth as consumers hunt for value. Stock down 15.1% over past 21 days, closed at $62.98. Board appointed Dylan Jadeja (CEO Riot Games) as director. Dividend of $0.96 with ex-date March 24. Average analyst price target $78.58 indicates 21.91% upside from current levels with Buy rating from 20 analysts.
Apr 8Best Buy announced appointment of Dylan Jadeja, CEO of Riot Games, to its Board of Directors, strengthening leadership amid challenging consumer sentiment.Mixed▶
Best Buy faces challenges from increased competition and declining revenues despite raising its dividend to maintain 6.1% yield. The company appointed Dylan Jadeja as a new board member. Earnings beat triggered analyst coverage and post-earnings rally, though Best Buy projected weak growth as consumers hunt for value. According to 20 analysts, the average rating is Buy with 12-month target of $78.58, indicating 21.91% upside.
Apr 7No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Apr 6No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Apr 3Best Buy beats Q4 FY26 earnings expectations on strong comparable sales and raises dividend 1%.Positive▶
Best Buy reported Q4 FY26 adjusted EPS of $2.61 versus $2.47 expected, with revenue of $13.81 billion slightly below $13.88 billion estimate. The company raised its quarterly dividend by 1% to $0.96 per share. For FY27, Best Buy projects revenues between $41.2-42.1 billion. Stock rose 7% following earnings announcement.
Apr 2Best Buy reports mixed Q4 results with declining comparable sales; dividend increased but outlook remains cautious.Mixed▶
Best Buy reported weaker-than-expected earnings with declining revenue and comparable sales, offsetting a dividend increase. The company recorded $192 million in non-cash asset impairments related to Best Buy Health in Q3 FY26 due to pressures in Medicaid and Medicare Advantage markets. Dylan Jadeja, CEO of Riot Games, was appointed to the Board of Directors. Recent analyst activity shows mixed sentiment with price target adjustments reflecting cautious outlook.
Apr 1Best Buy announced $0.96 quarterly dividend; Q4 earnings showed 7% stock gain on Ads/Marketplace growth.Positive▶
Best Buy declared quarterly dividend of $0.96 per share. Q4 FY26 earnings surpassed expectations with adjusted diluted EPS $2.61, though comparable sales declined 0.8%. Growth in Ads and Marketplace segments offset weaker core sales.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| BBYBEST | $60.13 | -0.60% | -5.8% | 8.6x | 1.37 | $12.7B |
| AMZNAMAZON.COM | $268.12 | +1.15% | +24.6% | 27.1x | 1.38 | $2.85T |
| TSLATESLA | $390.70 | +2.38% | +8.2% | 150.5x | 1.92 | $1.43T |
| HDHOME | $324.45 | -1.32% | +0.7% | 20.2x | 1.08 | $327.5B |
| MCDMCDONALD | $287.01 | -2.24% | -5.2% | 20.4x | 0.53 | $208.7B |
| TJXTJX | $157.03 | +0.18% | -3.1% | 27.6x | 0.73 | $174.1B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price below 200d MA — bearish structure.