BBY Stock Summary and Trading Ideas (Best Buy Co. | NYSE:BBY)

With $43.5 billion in consolidated 2023 sales, Best Buy is the largest pure-play consumer electronics retailer in the US, boasting roughly 8.3% share of the North American market and north of 33% share of offline sales in the region, per our calculations, CTA, and Euromonitor data. The firm generates the bulk of its sales in-store, with mobile phones and tablets, computers, and appliances representing its three largest categories. Recent investments in e-commerce fulfillment, accelerated by the covid-19 pandemic, have seen the US e-commerce channel roughly double from prepandemic levels, with management estimating that it will represent a mid-30% proportion of sales moving forward.

Best Buy Co. trades on the NYSE stock market under the symbol BBY.

As of November 8, 2024, BBY stock price declined to $90.06 with 281,938 million shares trading.

BBY has a beta of 0.62, meaning it tends to be less sensitive to market movements. BBY has a correlation of 0.06 to the broad based SPY ETF.

BBY has a market cap of $19.34 billion. This is considered a Large Cap stock.

Last quarter Best Buy Co. reported $9 billion in Revenue and $1.34 earnings per share. This beat revenue expectation by $48 million and exceeded earnings estimates by $.18.

In the last 3 years, BBY traded as high as $141.97 and as low as $60.79.

The top ETF exchange traded funds that BBY belongs to (by Net Assets): VTI, VOO, SCHD, VO, DVY.

BBY has outperformed the market in the last year with a return of +43.1%, while the SPY ETF gained +38.4%. However, in the most recent history, BBY shares have underperformed the stock market with its stock returning +12.8% in the last 3 month period and -4.3% for the last 2 week period, while SPY has returned +15.5% and +3.2%, respectively.

BBY support price is $88.48 and resistance is $91.74 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BBY shares will trade within this expected range on the day.