- Needham's Laura Martin, a long-time Pandora (P +5.6%) bull (previous), has declared the Web/mobile radio leader her top 2014 Internet stock. That helped shares move rally on a good day for high-beta Internet names (Facebook and Twitter also rose sharply).
- Martin's bullish stance revolves around Pandora's surging mobile revenue/ad RPM. "For the online content companies we follow, we believe mobile monetization will be the most important value driver in 2014. With 60% of total revenue generated by mobile devices in 3Q13, we believe Pandora is a great way to participate in this valuation trend."
- Martin's top 2013 Internet pick (Yahoo) is up 96% YTD, and her top 2012 Internet pick (AOL) rose 132% last year.
Needham calls Pandora its top 2014 Internet stock, shares rally again
Dec 23 2013, 17:17 ET