Best Buy stock underperforming S&P 500, facing competition and weak sales

From Nasdaq: 2024-12-26 15:01:07

Best Buy Co., Inc., a large-cap stock valued at $18.6 billion, dominates the consumer electronics market with over 33% market share in offline sales. Despite recent declines in stock price, Best Buy’s iconic brand and loyal customer base maintain its position as a premier electronics retailer. However, tough competition and weak sales in key product categories pose challenges for the company.

In comparison, GameStop Corp. has outperformed Best Buy with a 31.7% increase in the past six months and 83.5% gains over the past year. Wall Street analysts are moderately bullish on Best Buy’s future, giving it a consensus “Moderate Buy” rating and a mean price target of $100, suggesting a potential upside of 15.1% from current levels.



Read more at Nasdaq: Is Best Buy Stock Underperforming the S&P 500?