Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of software company LogMeIn (NASDAQ:LOGM) soared 21% today after its quarterly results and outlook topped Wall Street expectations.

So what: The stock has been crushed over the past year on weak revenue growth, but a first-quarter beat -- adjusted EPS of $0.12 on revenue of $37.4 million versus the consensus of $0.10 and $36.3 million -- combined with upbeat guidance suggests that things are starting to turn around. In fact, the company drew in a record 2.7 million first-time users, and 37,000 new premium subscribers during the quarter, allaying some of the concern recently over intensifying competitive pressure.

Now what: Management now sees full-year adjusted EPS of $0.46-$0.50 on revenue of $157 million-$160 million, nicely ahead of Wall Street's view of $0.46 and $155.1 million. "[W]e expect to build on this momentum by introducing two new cloud offerings -- developed on our proven Gravity cloud platform -- that we believe will provide a catalyst for accelerating growth in 2013 and beyond," said CEO Michael Simon. "As a result, we've increased our full-year outlook." When you couple today's price surge with the company's still-speculative nature, however, buying into that bull talk doesn't seem prudent at this point.  

Interested in more info on LogMeIn? Add it to your watchlist.

Fool contributor Brian Pacampara has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.