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.
So what: JPMorgan maintained an overweight rating and bumped its price target to $31 -- a price the stock has already almost reached. Third- and fourth-quarter 2011 and 2012 revenue estimates were also increased because analysts think customers for the company's mobile data solutions will start to ramp up purchases in the second half of 2011.
Now what: Motricity continues its incredible ride up since its IPO in June with today's move. There may be some risk of momentum traders giving up on this stock eventually, but I think the market will stay bullish with the better revenue outlook. Fundamentals are improving, and I'm not about to stand in the way of a stock on a run like this.
Interested in more info on Motricity? Add it to your watchlist.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings, or follow his Motley Fool CAPS picks at TMFFlushDraw.
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