Best Buy (BBY) stock was on the move Thursday following the release of the electronics retailer’s Fiscal Q2 2026 earnings report. The company reported adjusted earnings per share of $1.28, which was above Wall Street’s estimate of $1.21. However, adjusted EPS dropped 4.5% year-over-year from $1.34.
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Revenue reported by Best Buy in Fiscal Q2 2026 was $9.44 billion, another beat compared to analysts’ estimate of $9.23 billion. Investors will also note that the company’s revenue was up 1.6% year-over-year from $9.29 billion. Behind this was a 1.6% increase in enterprise comparable sales, a 1.1% jump in domestic comparable sales, 5.1% growth in domestic comparable online sales, and a 7.6% climb in international comparable sales.
Best Buy stock was up 1.26% in pre-market trading on Thursday, following a 2.42% rally yesterday. Even so, BBY shares have fallen 9.71% year-to-date and 24.69% over the past 12 months.
Best Buy Guidance
Best Buy reiterated its Fiscal 2026 guidance in its latest earnings report. The company continues to expect adjusted EPS of $6.15 to $6.30. With a midpoint of $6.22 per share, this will likely beat Wall Street’s estimate of $6.19.
Best Buy also still expects Fiscal 2026 revenue to range from $41.1 billion to $41.9 billion. At a midpoint of $41.5 billion, the company’s revenue would also surpass analysts’ estimate of $41.41 billion for the year.
Is Best Buy Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Best Buy is Moderate Buy, based on eight Buy, nine Hold, and a single Sell rating over the past three months. With that comes an average BBY stock price target of $80.31, representing a potential 6.44% upside for the shares. These ratings and price targets will likely change as analysts update their coverage after today’s earnings report.
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