Best Buy - price maxed out?
Since 03-01-2024, transactions by insiders of Best Buy Co., Inc. (BBY) were reported on the stock market.
Understanding insider transactions can help investors manage risk by identifying potential red flags or signals of corporate trouble before they become widely known through official disclosures.
There were no insider transactions on the buy side whereas their sales transactions were executed at a weighted average price of 82.31 In anticipation of the earnings report, insiders have been actively divesting shares, indicating a possibility of negative earnings results and subsequent price shifts.
BBY's price projections experienced an adjustment on 2024-03-27.
In their thorough research assessments, analysts offer investors a detailed spectrum of maximum and minimum price projections for a given stock, enabling investors to formulate effective investment strategies. Recommendations from 20 analysts put the price expectation for BBY to range between 70.0 and 96.0. The mean price expectation is about 84.88.
Analysts altered the earnings estimate for BBY on 2024-03-27.
Earnings estimates allow investors to compare a company's performance with its peers and industry benchmarks, providing insights into its competitive position and market dynamics. Average EPS has been revised down from 6.05 to 6.04 by 24 analysts.
The average yearly EPS is expected to be at 6.04 with the lower end expected at 5.75 and higher end at 6.34. This is an decrease of about -0.051999997 from the EPS of 6.37 from a year ago. Also, the lower end of revenue is expected to be at 41266000000 and the higher band at 42884100000, with the average revenue expected to come in at 42041400000. This is an decrease of about -0.032 from the revenue of 43452000000 from a year ago.
Reduced earnings estimates may result in price decreases leading up to the next results, offering investors an early exit opportunity or selling chance.
Technical Summary
The current price of 81.64 finds support at 80.88 and resistance at 80.88. The recent price move is approaching support.
The PSAR continues to be bullish in its current outlook.
The moving averages for 20-50-100 are aligned bearishly but the slopes for the 20/50 SMAs are starting to waver, indicating a possible move to a bullish price action soon.
DISCLAIMER: We provide our musings based on events. Nothing on this site can be considered professional advice of any kind.
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