Yield

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>BBY stock price sliding down from its 20-day EMA, since the beginning of this month.</a> </li> 
 <li> <span>2</span> <a>The bearish trend took the RSI of BBY stock near the oversold zone.</a> </li> 
</ul> 
<p>Best Buy (BBY) stock showed a bearish trend that had over 10% decline in its share price. Whereas, in the last 5 days the price dropped more than 3%. Notably, BBY share price traded in between $73.55 to $70.26 during the recent one-week time period. However, the stock tried to show a bullish trend since the beginning of this week but could not continue it.</p> 
<h2 class="wp-block-heading" id="strong-can-bby-stock-price-make-a-u-turn-strong"><strong>Can BBY Stock Price Make A U-Turn?</strong></h2> 
<p>BBY stock price traded between $72.13 to $70.75 in its recent trading session. Its price performance continued the bearish trend with a 0.97% price drop with increased bears’ activity. Notably, the long-run downward trend has supported its RSI to keep its performance near the oversold zone.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="464" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-615-1024x464.png" alt="BBY Stock Price Continuous its Bearish Trend Below 20-day EMA" class="wp-image-169953" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-615-1024x464.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-615-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-615-768x348.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-615-750x340.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-615-1140x517.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-615.png 1281w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   <strong>Source: BBY/USD by </strong><a href="https://www.tradingview.com/x/rpz0aANw/" target="_blank" rel="noreferrer noopener"><strong>TradingView</strong></a>
  </figcaption>
 </figure>
</div> 
<p>As the above chart shows, after the recent quarter report, BBY share price dropped down from nearly its 50, 100, and 200-day EMA. Even with the positive earnings report, a bearish trend started in the stock price which led it to trade below 20-day EMA.</p> 
<p>If the bearish trend stays during the upcoming trading sessions, then BBY <a href="https://www.thecoinrepublic.com/2023/09/10/bby-stock-nyse-bby-price-near-support-zone-rebound-awaits/" target="_blank" rel="noreferrer noopener">stock price</a> may reach near its support level of $69.00. On the other hand, if bulls take over the control with potential dominance, then BBY share price may take a u-turn and reach near its 20-day EMA.</p> 
<p>The analysts have set their 1-year price target at $81.43, which is up by over 15% from the recent closing price of BBY stock. The maximum estimate of analysts is further shown at $91.00 whereas the minimum estimate is at $70.00.</p> 
<h3 class="wp-block-heading" id="strong-the-financial-update-of-best-buy-co-strong"><strong>The Financial Update of Best Buy Co.</strong></h3> 
<p>Best Buy Co Inc. (NYSE: BBY), an American multinational consumer electronics <a href="https://www.thecoinrepublic.com/2023/09/20/gme-stock-price-dropped-from-its-20-day-ema-earlier-this-week/">retailer</a>, has a market cap of nearly $15.54 Billion. Its price-to-sales ratio is 0.35 whereas the company has an Enterprise Value to EBITDA ratio of 6.66. BBY dividends are paid on a quarterly basis and its last dividend per share was $0.92. As of now, the Dividend Yield (TTM)% is 5.10%.</p> 
<p>Late last month, Best Buy Co. reported its Q2 2023 result that states its net income is $274.00 Million. Its earnings per share (EPS) is $1.22 whereas the estimation was $1.07 which accounts for a 13.74% surprise. The revenue for the same quarter reached $9.58 Billion despite the estimated figure of $9.52 Billion.</p> 
<p>For the upcoming Q3 2023, the estimated EPS is $1.19, whereas revenue is expected to reach $9.91 Billion. In the previous year, the revenue report of the company stated its revenue was $46.30 Billion. Out of which, $42.79 Billion came from its highest performing source at the moment, “domestic.”</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.</p>

BBY Stock Price Continuous its Bearish Trend Below 20-day EMA

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