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 chat-based help desk operator LivePerson (Nasdaq: LPSN) turned a deaf ear today, falling as much as 16.9% on many times the average trading volume.

So what: Last night, LivePerson reported $0.09 of non-GAAP earnings per share on $30.4 million in sales, which matched up very well with Street targets set at $0.07 and $30.4 million, respectively. But the second-quarter outlook fell below analyst expectations on both the top and bottom lines, which is a cardinal sin for growth stocks such as LivePerson.

Now what: Some companies like to set the bar low in order to clear it with ease, but LivePerson is not one of them; the company has exactly met Street targets in two of its last five reports and missed two others. This quarter was a trend-breaker because it was a positive surprise. That said, fellow Fool Rick Munarriz sees plenty of blue skies ahead for the company as it treads a path all its own with no competition to speak of and a business model that even Hewlett-Packard and Oracle would be hard-pressed to duplicate. That makes buying opportunities out of these inconsequential drops.

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