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: For the fourth time in three weeks, shares of Leap Wireless (Nasdaq: LEAP) surged more than 10% in early trading. This time, the stock moved 13% on an analyst upgrade.

So what: Deals have helped boost shares of the Cricket Wireless parent in recent weeks, including a partnership with Verizon (NYSE: VZ). Now it seems management's moves are boosting revenue, too. A Mizuho analyst upgraded the stock to "buy" from "neutral" after channel checks showed strong sales.

Now what: The size of the boost remains to be seen, but even minimal progress justifies the move at this point. Leap trades for less than one-tenth analysts' long-term estimates for annual profit growth. Do you agree? Would you buy shares of Leap Wireless at current prices? Let us know what you think using the comments box below.

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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.