Best Buy (BBY) stock jumped on Tuesday following the release of the retailer’s Fiscal Q3 2026 earnings report. The company reported adjusted earnings per share of $1.40, which beat Wall Street’s estimate of $1.31. It was also an 11.11% increase year-over-year from $1.26 per share.
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Revenue reported by Best Buy in its Fiscal Q3 2026 report came in at $9.67 billion, compared to analysts’ estimate of $9.58 billion. The company’s revenue also grew 2.33% year-over-year from $9.45 billion. Best Buy CEO Corie Barry noted, “We delivered sales growth across both online and stores, saw continued improvements in customer experience ratings and launched our Best Buy Marketplace.”
Best Buy stock was up 1.82% in pre-market trading on Tuesday, following a 1.09% fall yesterday. The stock has decreased 8.34% year-to-date and 14.53% over the past 12 months.
Best Buy Guidance
Best Buy provided investors with updated Fiscal 2026 guidance in its most recent earnings report. It expects adjusted EPS to range from $6.25 to $6.35, compared to its prior guidance of $6.15 to $6.30. With a midpoint of $6.30, this would see it beat Wall Street’s estimate of $6.26 per share.
Best Buy’s Fiscal 2026 revenue guidance was increased to between $41.65 billion and $41.95 billion from its prior outlook of $41.1 billion to $41.9 billion. With a midpoint of $41.8 billion, this is set to match analysts’ revenue estimate 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 seven Buy, 12 Hold, and a single Sell rating over the past three months. With that comes an average BBY stock price target of $81.12, representing a potential 7.27% upside for the shares. These ratings and price targets will likely change as analysts update their coverage following today’s earnings report.
