Pandora’s strong earnings were a sign that the company was breaking out of the pack of online laggards, trader Josh Brown said Wednesday on CNBC.
“The Pandora story — I’m starting to really like it a lot,” he said. “I was one of the early haters, and the company has absolutely proved me wrong.”
Brown of Fusion Analytics said that the company’s growing advertising base to serve consumers streaming music from laptop or mobile device, instead of relying on paid user subscriptions only made it a strong play.
(Read More: Pandora Well Positioned for Mobile Growth: CEO.)
“This is starting to act like LinkedIn. It’s separating itself from the negativity of the Zyngas , the Groupons . I think we can’t look at these names as a monolith anymore,” he said.
Stephanie Link agreed: “The companies that can monetize mobile are certainly going to get the premium multiple.”
Trader disclosure: On Aug. 29, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Dan Nathan is long MS JAN 10/5 PUT SPREADS; Dan Nathan is long INTC SEPT 25/23 PUT SPREADS; Dan Nathan is long CSCO SEPT 17 PUTS; Dan Nathan is long SBUX SEPT 47 PUTS; Dan Nathan is long MSFT OCT 30/28 PUT SPREAD; Dan Nathan is long YUM OCT 62.5/55 PUT SPREAD; Pete Najarian is long AAPL; Pete Najarian is long C; Pete Najarian is long JPM CALLS; Pete Najarian is long INTC; Pete Najarian is long YHOO; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Pete Najarian is long JOSB; Pete Najarian is long INTC; Pete Najarian is long MCP CALLS; Pete Najarian is long MCP; Stephanie Link is long AAPL; Stephanie Link is long JPM; Stephanie Link is long VALE; Stephanie Link is long EBAY; Stephanie Link is long COH; Stephanie Link is long NKE; Stephanie Link is long CVS; Josh Brown is long AAPL; Josh Brown is long WFC; Josh Brown is long GDX; Josh Brown is long XLU; Josh Brown is long XLF; Josh Brown is long WMT; Josh Brown is long TGT; Josh Brown is long CREE; Josh Brown is long ZNGA; Josh Brown is long MAKO.
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