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 teeth-straightening specialist Align Technology (Nasdaq: ALGN) surged 16% on Tuesday after its quarterly results and guidance topped consensus estimates.

So what: Align's top and bottom lines continue to trend so much stronger than expected -- adjusted EPS of $0.27 topped Wall Street by $0.06 on 29% revenue growth -- that analysts are quickly scrambling to raise their price targets yet again. Sales of its flagship product Invisalign rose 18% to $128.2 million, reinforcing optimism over the longer-term growth prospects of invisible braces.

Now what: Expect the momentum to continue in the short term. Management now sees second-quarter adjusted EPS of $0.26 to $0.28 on revenue of $140.2 million to $143.7 million, also above Wall Street's view of $0.24 and $135.6 million. However, with the stock busting through its 52-week high today -- up a whopping 120% from its October lows -- and trading at a forward P/E of 26, the easy money might have already been made.

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

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days.

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