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 communications networking technologist Ubiquiti Networks (NYSE:UI) jumped 18% today after its quarterly results and outlook topped Wall Street expectations.

So what: The stock has soared in 2013 on better-than-expected growth, and today's Q4 results -- income spiked 208% on a revenue jump of 111% -- coupled with upbeat guidance suggest that the momentum isn't slowing. In fact, Ubiquiti's operating margins jumped to 35.4% from 25.6% in the year-ago period, suggesting that its competitive position is strengthening as well.

Now what: Management now sees Q1 EPS of $0.40-$0.44 on revenue of $130 million-$136 million, versus Wall Street's view of $0.40 and $123.77 million. "Ubiquiti is continuing to demonstrate the financial leverage, scalability and disruptive power of our business model," Founder and CEO Robert Pera said. "With our strong pipeline of innovative products, growing traction in the enterprise business and improving execution we believe that we are well positioned for future growth." Of course, with Ubiquiti shares flirting with their 52-week highs once again and trading at a price-to-cash flow around 30, much of that growth might already be baked into the valuation.