Valued at $15.7 billion by market cap, Best Buy Co., Inc. (BBY) operates as a specialty retailer, selling consumer electronics, home office products, entertainment software, communication, food preparation, and other appliances. The Richfield, Minnesota-based retailer operates through numerous stores spread across the U.S. and Canada.

Companies worth $10 billion or more are generally referred to as “large-cap stocks.” Best Buy fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size and influence in the specialty retail industry.

The stock touched its 52-week high of $103.48 on Sept. 30, 2024, and is currently trading 28.7% below that peak. Meanwhile, the stock has gained 8.8% over the past three months, lagging behind the Consumer Discretionary Select Sector SPDR Fund’s (XLY) 14.3% surge during the same time frame.

BBY’s performance has remained much grimmer over the longer term. The stock has declined 14.1% on a YTD basis and plummeted 25.6% over the 52 weeks, underperforming XLY’s 7.2% uptick in 2025 and 24.8% surge over the past year.

The stock has remained mostly below its 200-day moving average since December 2024, with some fluctuations, and above its 50-day moving average since mid-August, underscoring its longer-term bearish movement and recent upturn.

Despite delivering better-than-expected results, Best Buy’s stock prices declined 3.7% in the trading session following the release of its Q2 results on Aug. 28. The company reported 1.6% growth in comparable sales, the highest over the past three years. The company’s topline for the quarter came in at $9.4 billion, up 1.6% year-over-year and 2.6% ahead of the Street expectations. Meanwhile, due to a slight contraction in gross margins, BBY’s non-GAAP EPS declined 4.5% year-over-year to $1.28, but surpassed the consensus estimates by 4.9%.

However, on a GAAP basis, its net income plunged 36.1% year-over-year to $186 million, as the company spent $114 million on its restructuring efforts. Further, BBY isn’t confident in observing any substantial turnaround in the coming quarters, due to the increased uncertainties about the effects of tariffs on its business.

When compared to its peer, BBY has slightly outperformed GameStop Corp.’s (GME) 17.4% decline in 2025, but significantly underperformed GME’s 31.7% surge over the past 52 weeks.

Among the 24 analysts covering the BBY stock, the consensus rating is a “Moderate Buy.” Its mean price target of $79.79 suggests an 8.2% upside potential from current price levels.