Web radio provider Pandora should have a banner 2014 as it expands into more cars, making it the best play in the intersection of automobiles and technology, RBC's Mark Mahaney told CNBC on Monday.
As automakers unveil the latest innovations in car technology at the International Consumer Electronics Show in Las Vegas this week—including a solar-paneled vehicle from Ford and Google-powered dashboards—Mahaney contends that Pandora is the best way to invest in the Web-connected car trend.
Pandora already accounts for 8 percent of radio hours in the United States, he said, and its move into more automobiles could double that and dramatically increase its ad sales revenue. The company falls into a category of stocks that propel strong revenue and opportunity into a wide-open growth area.
(Read more: Automakers make the big high-tech push)
Mahaney, a managing director at RBC Capital Markets, told "Squawk on the Street." that all of Pandora's revenue "has come from mobile devices, laptops and desktops." Half of all radio listening in the U.S. happens in the car, "and none of that to date has come to Pandora," he added. "That makes Pandora our No. 1 pick in this space."