Is Spotify Stock a Buy Right Now?
Spotify's (NYSE: SPOT) stock price has held up relatively well since the S&P 500 peaked in February. While not entirely immune to the sell-off spurred by the impact of coronavirus, the share price is only down about half as much as the market index.
That suggests the market doesn't think Spotify will see as big of an impact on its business as many other sectors. Still, there's disagreement among analysts about whether the more modest sell-off presents a buying opportunity or not for investors interested in the streaming audio company.
Two weeks ago, Bernstein analyst Todd Juenger upgraded the stock, noting that Spotify is "perfectly insulated" from the impact of coronavirus. This week, Raymond James analyst Justin Patterson downgraded the stock, saying Spotify is seeing less engagement and fewer downloads from people staying at home.
Source Fool.com
