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 Motley Fool Stock Advisor favorite Netflix (Nasdaq: NFLX) are up 14% today after the company announced another blowout quarter.

So what: Revenue was up 34%, and earnings per share of $0.87 crushed estimates of $0.71 on Wall Street. The great results have left analysts scrambling to upgrade shares today with Morgan Keegan, Think Equity, Pacific Crest and Bank of America among those upgrading the stock. Maybe the most surprising news came in a letter to shareholders in which Netflix announced intentions to expand its presence on Facebook and to split household accounts into multiple personal accounts.

Now what: As Netflix transitions into a streaming content company, the personal accounts would allow it to charge customers who use multiple simultaneous streams more than the current household rate. Netflix has proven able to morph its business model in the past, and the move into social networking will be an interesting one to watch. I've missed out on the Netflix run, but with a trailing price/earnings ratio of 70 and with analysts jumping on the bandwagon (a sell sign for this Fool), I'm going to sit out today's move at the risk of missing out on a further move higher.

Interested in more info on Netflix? 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 CAPS picks at TMFFlushDraw.

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