Investors were singing to the tune of Pandora Monday.

Shares of the online radio giant popped 6 percent in Monday's trading after MKM Partners upgraded the company to "buy" from "neutral," and raised its price target to $36 dollars per share.

Rob Sanderson, managing director at MKM noted three major changes in the company as reason for the upgrade:

1. "The platform has proven more sticky than we expected in the face of competition."
2. "The ad monetization ramp is crossing profitability thresholds with strength."
3. "We have a greater appreciation for the value of Pandora's ability to target."

Pandora shares have gotten hammered recently, falling more than 35 percent from its high on March 5, 2014. So, is now the time to hit play on Pandora?

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"How does one explain 20 to 40 to 20 all in the last six months," said Carter Worth, Sterne Agee's chief market technician of the recent price action in Pandora. "No one has a clue what it's worth."

"We would say at this particular moment, it's a case of do nothing," Worth noted. "Meaning, the stock has come down to a point where just buying because it's over done and maybe catching a bounce is speculative and getting short all the way down here is probably a bad thing too."

But Steve Cortes, founder of Veracruz TJM agrees with MKM that the "stickiness" of Pandora makes it a buy.

"Do not put Pandora in a box," Cortes joked. "I think this company is very worthy of this price, and much higher."

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"Wall Street often freaks out with Pandora any time a new competitor arrives, whether it's Google Music, or Spotify or most recently iTunes Radio," Cortes said. "Despite these new arrivals, these new competitors, they [Pandora] are maintaining their customer base and growing it and growing the total time listened with that customer base. I think that is very significant."

So who do you side with? Check out the video above to watch Worth and Cortes battle it out on Monday's episode of CNBC "Street Signs."

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