Best Buy (BBY) PT Lowered to $88 at Telsey

Best Buy (BBY) PT Lowered to $91 at Piper Sandler

May 24, 2022 2:26 PM EDT

Piper Sandler analyst Peter Keith lowered the price target on Best Buy (NYSE: BBY) to $91.00 (from $144.00) while maintaining a Overweight rating.... More

Best Buy (BBY) PT Lowered to $84 at CFRA

May 24, 2022 9:16 AM EDT

CFRA lowered its price target on Best Buy (NYSE: BBY) to $84.00 (from $100.00) while maintaining a Hold rating.... More

Pre-Open Stock Movers 05/24: Snap's Warning Sends Tech Stocks Reeling; Insulet Gains on Deal Talk (more...)

May 24, 2022 9:14 AM EDT

Pre-Open Stock Movers:

Snap (NYSE: SNAP) 34% LOWER; warns for Q2. The company said since they issued guidance on April 21, 2022, the macroeconomic environment has deteriorated further and faster than anticipated. As a result, we believe it is likely that we will report revenue and adjusted EBITDA below the low end of our Q2 2022 guidance range.

Abercrombie & Fitch (NYSE:... More

Best Buy (BBY) Stock Dips After Slashing Revenue Guidance

May 24, 2022 8:55 AM EDT

Shares of Best Buy (NYSE: BBY) are down almost 3% in premarket trading Tuesday after the company slashed its FY revenue guidance.

BBY reported Q1 adjusted EPS of $1.57, compared to $2.23 in the year-ago period and missing the consensus estimates of $1.60 per share. Revenue came in at $10.65 billion, down 8.5% YoY and above the analyst consensus of $10.41 billion.

The gross margin stood at 22.1%, compared to 23.3% in the year-ago quarter and... More

Best Buy (BBY) Sees `Elements Of Soft Demand,' Not Full Recession - Bloomberg

May 24, 2022 8:48 AM EDT

Best Buy (NYSE: BBY) Sees `Elements Of Soft Demand,' Not Full Recession - Bloomberg

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Best Buy sees lower TV, computer sales as inflation hits shoppers' wallets

May 24, 2022 7:11 AM EDT

By Uday Sampath Kumar

(Reuters) -Best Buy Co Inc cut its annual profit forecast on Tuesday due to lower demand for TVs and computers, making it the latest major retailer to underline the impact of 40-year high inflation on shoppers' spending power.

The company's shares, which fell more than 16% last week in a broader retail selloff, were up about 2%, as the electronics seller reported first-quarter sales that were not as bad as feared.

... More

Best Buy (BBY) Misses Q1 EPS by 6c,Revenue Beats, Updates FY Guidance

May 24, 2022 7:02 AM EDT

Best Buy (NYSE: BBY) reported Q1 EPS of $1.57, $0.06 worse than the analyst estimate of $1.63. Revenue for the quarter came in at $10.65 billion versus the consensus estimate of $10.44 billion.

Comparable Sales Decreased 8.0% Compared to 37.2% Growth in Q1... More