Best Buy's (BBY, Financial) options market witnessed a significant uptick in activity, with a substantial bullish sentiment emerging. A total of 7,885 call options were traded, tripling the usual volume. This activity drove the implied volatility up by nearly five percentage points, reaching 43.96%.
Particularly active were the options expiring on May 2nd and April 25th, both with a strike price of $64. These two sets of weekly call options alone accounted for about 4,700 contracts, underscoring investor interest in a potential price movement.
The Put/Call Ratio stands at a low 0.33, indicating a strong preference for call options over puts among traders. This suggests that market participants are anticipating positive news or movements in the stock price ahead of Best Buy's upcoming earnings report, scheduled for May 29th.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 20 analysts, the average target price for Best Buy Co Inc (BBY, Financial) is $87.03 with a high estimate of $110.00 and a low estimate of $64.00. The average target implies an upside of 35.47% from the current price of $64.24. More detailed estimate data can be found on the Best Buy Co Inc (BBY) Forecast page.
Based on the consensus recommendation from 29 brokerage firms, Best Buy Co Inc's (BBY, Financial) average brokerage recommendation is currently 2.7, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Best Buy Co Inc (BBY, Financial) in one year is $75.92, suggesting a upside of 18.18% from the current price of $64.24. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Best Buy Co Inc (BBY) Summary page.
