Shares of Best Buy (NYSE: BBY) have seen better days. Rising competitive pressure on all sides has left the big-box retailer in a major funk. Sales growth slid into the red in the last two quarters, and net income has followed. With Best Buy near its 52-week lows, I asked our Foolish analysts whether now was the time to buy in.

Travis Hoium, contributor
The Best Buy store has become an extravagant showroom for online retailers who are able to offer the same products at lower prices. Even retailers like Target and Wal-Mart (NYSE: WMT) are taking sales because they can offer one-stop shopping to those who don't need Best Buy's expertise. And to top it off, music and movies are now easy to download, or streamed from a variety of sources that leave Best Buy out of the equation. I prefer to stick with a retailer like Target, which offers many of the same products, and saves me a trip to the grocery store, too.

Rick Munarriz, contributor and Motley Fool Rule Breakers team member
Best Buy is the Prince William of retail. It was a handsome young lad a few years ago, but every passing day finds it looking more and more like its creepy dad. Best Buy should follow royalty's lead and get hitched before it begins seeing Circuit City in the mirror. The days of the consumer-electronics superstore are numbered. Online retailers -- and not just (Nasdaq: AMZN) -- are gaining market share with their lean overhead. The inevitable future of digital delivery across all media will make many Best Buy departments obsolete. Avoid this kingdom of fiscal quicksand.

Anders Bylund, contributor
Big-box retailers once ruled supreme, but things have changed. Best Buy is among the last bulk electronics retailers standing, and credit for that victory goes to smart management.

Now Best Buy casts jealous glances at smaller store concepts and works to emulate that money-making model. Five years ago, you'd never believe that Best Buy would want to be more like RadioShack (NYSE: RSH), but that's where we are today, thanks to the lower overhead of smaller stores.

That flexibility makes Best Buy a long-term winner, despite market skepticism. You can buy the stock today, then sit back and watch the new strategy pay dividends over the next few years. 

Rich Smith, contributor
To paraphrase Grand Moff Tarkin: "Sell Best Buy? In its moment of triumph? I think you underestimate their chances."

We're on the cusp of seeing states require Amazon to collect sales taxes across the country, eliminating a large part of its price advantage over Best Buy. At the same time, Best Buy isn't waiting on state legislators to save its business. It's playing to its strengths and in areas where Amazon cannot (easily) compete: Appliance trade-ins, used game exchanges, and Geek Squad services. Heads, Best Buy wins; tails, it wins even bigger.

Tim Beyers, contributor and Motley Fool Rule Breakers team member
Forget for a moment that Best Buy trades for less than the long-term profit growth rate analysts expect, resulting in a perfectly reasonable 0.80 PEG ratio.

Best Buy is a best buy because it's an arms dealer in the lucrative smartphone and tablet wars. The company sells every major Android handset and tablet, including HTC's hyperfast Thunderbolt, Dell's (Nasdaq: DELL) Streak, and Motorola Mobility's (NYSE: MMI) Xoom. Apple (Nasdaq: AAPL) also sells its gear at Best Buy's physical and online stores.

Let these combatants fight to the death in the promotions aisles. So long as each battle ends with a ringing cash register, Best Buy wins. And so do its investors.

What do you think? Is now the time to add Best Buy? Let us know in the comments below.