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 holey shoe hawker Crocs (Nasdaq: CROX) climbed more than 10% in intraday trading as analysts bumped up their price targets on the stock.

So what: Last week, Crocs shares dipped after reporting earnings despite the fact that the company's results beat Wall Street's expectations. Crocs delivered 22% year-over-year sales growth and operating profit that more than tripled. On a GAAP basis, the company posted net income growth of 13%, but excluding tax benefits and other one-time items, bottom-line profit of $22 million was far above last year's $1.8 million. Mr. Market looked past all of that though, and shares actually declined slightly the day after the announcement. Wall Street analysts pushed the momentum back in the other direction today as a few of them all came up with higher price targets for the stock.

Now what: After falling on hard times, Crocs has been working on restructuring and refocusing aimed at broadening the company's business and putting it back on a solid financial footing. Based on the company's third-quarter results, it certainly looks like things are moving in the right direction. But should investors be buyers of the stock right now? According to data from Capital IQ, the average analyst target price is $17.40, or roughly 10% above today's price -- that's a positive, but not overly compelling. Combine that with a 2011 expected price-to-earnings ratio of nearly 18, and I'm not sure there's reason to be gaga over the shares right now.

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Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy assures you no Wookiees were harmed in the making of this article.