Should I Buy BBY? BBY 2026 Analysis

Should You Buy Best Buy Co Inc (BBY) Today? Analysis, Price Targets, and 2026 Outlook.

Conclusion

Hold

Latest Price

70.410

1 Day change

3.27%

52 Week Range

91.680

Analysis Updated At

2026/02/04

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Not a good buy right now for an impatient buyer: trend/positioning is still bearish and fresh analyst/news catalysts skew negative.
Best near-term setup is range-bound: price is sitting around the pivot (~65.7) with downside risk to 63.6/62.3 before a cleaner entry.
Hedge funds buying is a supportive signal, but heavy insider selling + weakening profitability tilts risk/reward against buying immediately.

Intellectia Proprietary Trading Signals

AI Stock Picker: No signal on given stock today.
SwingMax: No signal on given stock today.

Technical Analysis

Price context: pre-market ~65.5, essentially flat, sitting just below the pivot (65.72) — a “decision area,” not a breakout.
Trend: Bearish moving-average stack (SMA_200 > SMA_20 > SMA_5) signals the primary trend remains down.
Momentum: MACD histogram positive and expanding (0.0623) suggests a potential short-term bounce is developing, but not enough to overturn the bearish MA structure yet.
RSI(6) ~39.7: weak/soft momentum (not deeply oversold), consistent with a drifting-down tape.
Levels: Resistance R1 ~67.85 then R2 ~69.17; Support S1 ~63.59 then S2 ~62.27. A break below ~63.6 would likely accelerate selling pressure.
Pattern-based forward odds provided: 50% chance of -1.17% next day, -3.51% next week, -3.42% next month — bearish bias near term.

Options Data

Bearish

Open Interest Put-Call Ratio

Bullish

Option Volume Put-Call Ratio

Positioning/sentiment: OI put/call 1.18 implies heavier put open interest (more hedging / cautious-to-bearish stance).
Flow today: volume put/call 0.94 is slightly call-leaning intraday, but not a strong bullish signal.
Volatility: 30D IV ~50.2 vs historical vol ~40.8; IV percentile 87.2 = options are expensive and pricing elevated uncertainty.
Activity: today’s option volume ~4,045 (below 30D average; ~69.5% of avg) — no clear “panic” or aggressive bullish chase visible.
Takeaway: options market is cautious (hedged) rather than confidently bullish.

Technical Summary

Sell

Buy

Positive Catalysts

- Hedge funds are buying (reported +766.97% QoQ buying amount), which can provide a medium-term support bid.

Neutral/Negative Catalysts

and removal from JPM February favorites list — reinforces “range-bound / tough Q4” narrative.
suggests investors are still protecting against downside.

Financial Performance

Latest reported quarter: 2026/Q3.
Revenue: $9.672B, +2.40% YoY — modest top-line improvement.
Profitability worsened sharply: Net income $140M, -48.72% YoY; EPS $0.66, -47.62% YoY.
Gross margin: 23.24%, down ~0.98 YoY — indicates either higher costs, mix shift, or heavier promotions.
Bottom line: growth exists, but it’s low-quality (revenue up while earnings/margins down), which typically caps upside until margins stabilize.

Growth

Profitability

Efficiency

Analyst Ratings and Price Target Trends

Recent trend is negative/defensive: multiple price-target cuts and predominantly Hold/Neutral/Equal Weight stances.
Key change: 2026-02-02 JPMorgan downgraded to Neutral from Overweight; PT cut to $76 from $99, citing expected tough Q4, PC headwinds, and limited upside catalysts (range-bound view).
Other recent actions: Truist cut PT to $73 (Hold), Barclays cut PT to $77 (Equal Weight), Evercore cut PT to $80 (In Line). Earlier Morgan Stanley raised PT to $82 but kept Equal Weight.
Wall Street pros: expects some cyclical demand improvement and replacement cycles to help near-term.
Wall Street cons: doubts on sustainable comp/margin recovery; concern that benefits from product cycles won’t be enough to re-rate the stock materially in the near term.

12 Analyst Rating

Wall Street analysts forecast BBY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BBY is 83.33 USD with a low forecast of 60 USD and a high forecast of 99 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

5 Buy

6 Hold

1 Sell

Moderate Buy

Current: 68.180

Low

Averages

83.33

High

Current: 68.180

Low

Averages

83.33

High

Evercore ISI

In Line -> Hold

downgrade

$80 -> $70

AI Analysis

2026-02-03

New

Reason

Evercore ISI

Price Target

$80 -> $70

AI Analysis

2026-02-03

New

downgrade

In Line -> Hold

Reason

Evercore ISI lowered the firm's price target on Best Buy to $70 from $80 and keeps an In Line rating on the shares. The firm adjusted targets among its Retail Broadlines & Hardlines coverage.

JPMorgan

Christopher Horvers

Overweight -> Neutral

downgrade

$99 -> $76

2026-02-02

Reason

JPMorgan

Christopher Horvers

Price Target

$99 -> $76

2026-02-02

downgrade

Overweight -> Neutral

Reason

JPMorgan analyst Christopher Horvers downgraded Best Buy to Neutral from Overweight with a price target of $76, down from $99. The firm sees a "tough" Q4 report for the company. JPMorgan has concerns that the "unique benefits" Best Buy say from Switch 2 in Q2 and the Windows 10 expiration in October will keep the stock range bound. In addition, higher memory market price will likely diminish the company's computing sales, the analyst tells investors in a research note.

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BBY Should I Buy

BBY Should I Buy

Should You Buy Best Buy Co Inc (BBY) Today? Analysis, Price Targets, and 2026 Outlook.

Technical Analysis

Options Data

Technical Summary

Positive Catalysts

Neutral/Negative Catalysts

Financial Performance

Growth

Profitability

Efficiency

Analyst Ratings and Price Target Trends

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