Spotify Near Its 52-Week Low: Time to Buy?
Like many growth stocks this year, shares of Spotify Technology (NYSE: SPOT) have been crushed. The stock is down 60% from its all-time high. At the current quote of about $122, the shares are hovering just above the 52-week low of $118.20.
But Spotify is the leading audio streaming service, and it continues to grow. In the fourth quarter, the company reported year-over-year revenue growth of 24% as monthly active users surpassed 400 million. All said, the stock's performance doesn't reflect Spotify's underlying business performance, which means the company's intrinsic value might be much higher than the current share price.
And there's good reason to believe Spotify can continue adding users for many years.
Source Fool.com
