Best Buy Reports Better-Than-Expected Q3 Results, Raises FY26 Guidance

Written by Emily J. Thompson, Senior Investment Analyst

BBY-0.63%

AAP-2.96%

HOG-0.86%

Source: Benzinga

Updated: Dec 30 2025

0mins

Source: Benzinga

Strong Performance: Best Buy's Q3 financial results, reported on November 25, exceeded expectations with a comparable sales growth of 2.7%, driven by robust performance in computing, gaming, and mobile phones, indicating strong market demand.
FY26 Guidance Raised: CEO Corie Barry highlighted optimism for future financial prospects as the company continues to see growth in both online and in-store sales, alongside improved customer experience ratings, leading to an upward revision of FY26 guidance.
Stock Volatility: Despite the positive earnings report, Best Buy's stock has fallen approximately 12% over the past month, closing at $67.84, which is near its 52-week low of $54.99, reflecting market caution regarding its future performance.
Market Reaction: With an RSI value of 24.4, Best Buy's stock is considered oversold, potentially presenting a buying opportunity for investors, especially as the company continues to enhance customer experience and drive sales growth.

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BBY

$65.15+Infinity%1D

Analyst Views on BBY

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 60.00 USD and a high forecast of 99.00 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.

12 Analyst Rating

5 Buy

6 Hold

1 Sell

Moderate Buy

Current: 65.560

Low

60.00

Averages

83.33

High

99.00

Current: 65.560

Low

60.00

Averages

83.33

High

99.00

Truist

Scot Ciccarelli

Hold

downgrade

$77 -> $73

2026-01-16

Reason

Truist

Scot Ciccarelli

Price Target

$77 -> $73

AI Analysis

2026-01-16

downgrade

Hold

Reason

Truist analyst Scot Ciccarelli lowered the firm's price target on Best Buy to $73 from $77 and keeps a Hold rating on the shares as part of a broader research note on Hardlines/Broadlines consumer names. The firm is citing its latest Truist Card reads and ICR holiday updates in adjusting its sales and earnings estimates, though it also believes that a significant increase in tax refunds will likely boost sales across the retail space in what are typically seasonally softer months, the analyst tells investors in a research note. For the company, sales trends seem to have improved in recent weeks, but based on Truist Card Data, not enough to fully offset what appeared to be a particularly slow early December, the firm added.

Barclays

Seth Sigman

Equal Weight

downgrade

$81 -> $77

2026-01-08

Reason

Barclays

Seth Sigman

Price Target

$81 -> $77

2026-01-08

downgrade

Equal Weight

Reason

Barclays analyst Seth Sigman lowered the firm's price target on Best Buy to $77 from $81 and keeps an Equal Weight rating on the shares. The firm is positive on the broadlines, hardlines and food retail sector entering 2026. It sees improvements in discretionary goods demand with potential for a "modest bump" from consumer tax savings ahead and interest rate cuts.

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About BBY

Best Buy Co., Inc. is engaged in personalizing and humanizing technology solutions. The Company has two segments: Domestic and International. The Domestic segment comprises its operations in all states, districts and territories of the United States and its Best Buy Health business and includes the brand names Best Buy, Best Buy Ads, Best Buy Business, Best Buy Essentials, Best Buy Health, Geek Squad, Imagine That, Insignia, Lively, My Best Buy, My Best Buy Memberships, Pacific Kitchen and Home, TechLiquidators and Yardbird; and the domain names bestbuy.com, lively.com, techliquidators.com and yardbird.com. The International segment comprises all its operations in Canada under the brand names Best Buy, Best Buy Express, Best Buy Mobile, Geek Squad and TechLiquidators and the domain names bestbuy.ca and techliquidators.ca. The Company’s product categories include computing and mobile phones, consumer electronics, appliances, entertainment, services and others.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.