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 enterprise data organizer Informatica (Nasdaq: INFA) spiked as much as 12% in early trading today before falling back to more modest gains.

So what: Last night's fourth-quarter report easily beat Street estimates, and the next-quarter outlook was right in line with consensus estimates. Management sees cloud computing and social networks as the best growth drivers it has going in 2011.

Now what: Informatica is checking off all the right buzzwords and showing plenty of business muscle, but that doesn't necessarily make the stock a great buy. Shares are trading at 63 times trailing earnings even after last quarter's outperformance, and Informatica is very expensive relative to rivals such as SAP (NYSE: SAP) and IBM (NYSE: IBM). Then again, those behemoths can't measure up to Informatica's accelerating growth. You need a high risk tolerance to go there, but sometimes you get exactly what you pay for.

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

Fool contributor Anders Bylund holds no position in any of the companies discussed here. The Fool owns shares of International Business Machines. 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 is investors writing for investors.