Best Buy Co Inc (NYSE:BBY) shares are trading higher on Wednesday. The earnings beat has triggered a new round of analyst coverage, extending the momentum from yesterday’s post‑earnings rally.
- Best Buy stock is showing upward movement. What’s pushing BBY stock higher?
The Earnings Beat
Best Buy delivered fourth‑quarter earnings of $2.61 per share, topping expectations of $2.47 by a solid margin. Revenue came in at $13.81 billion, just shy of the $13.88 billion estimate, and down $134 million from last year.
Management issued fiscal 2027 earnings guidance of $6.30 to $6.60 per share, slightly below consensus, but paired it with several initiatives that helped reassure investors.
What Piper Sandler Has To Say
Piper Sandler trimmed its price target on Best Buy to $68 from $71 while keeping …