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 Qlik Technologies (NASDAQ:QLIK) were down by over 14% today, after underperforming in both revenue and earnings estimates for the third quarter, but the stock has since rebounded slightly to an 8% loss as of this writing.

So what: Analysts had expected $88.4 million in revenue, and $0.04 in earnings per share. Qlik's results were $86.1 million in revenue, and $0.02 in EPS. Fourth-quarter guidance also disappointed the Street, as did full-year earnings projections. Qlik expects $0.22 to $0.24 in EPS for the fourth quarter, and only a penny more in full-year EPS, while analysts were looking for $0.29 for the fourth quarter, and $0.32 for the full year.

Now what: This disappointing guidance anticipates minimal growth in Qlik's near future. The company sports a forward P/E of 40.7, priced to perfection for a stalling company. Investors have been fleeing the stock over the past year, and there seems to be nothing in this report indicating that they were wrong to do so.

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Fool contributor Alex Planes holds no financial position in any company mentioned here. Add him on Google+ or follow him on Twitter @TMFBiggles for more news and insights.

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