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 digital marketing company ValueClick (NASDAQ:CNVR) plummeted 17% today after its quarterly results and outlook disappointed Wall Street.

So what: ValueClick's first-quarter profit squeaked past estimates, but a top-line miss -- revenue of $165.4 million versus the consensus of $166.7 million -- coupled with downbeat guidance for the current quarter is triggering concerns over slowing growth going forward. While the company continues to increase both earnings and revenue at a solid rate, today's results suggest that it isn't growing fast enough to justify its recent price run-up. 

Now what: Management now sees second-quarter EPS of $0.38-$0.40 on revenue of $164 million-$168 million, versus the consensus of $0.40 and $175.3 million. "Our confidence in accelerating the long-term organic growth profile of the company are still as great as ever," CEO John Giuliani reassured analysts on a conference call. "And that's the key component we want to continue to stress is that the long-term organic growth opportunity is what we're focused on." Of course, with the stock still up more than 100% from its 52-week lows even after today's pullback, I'd hold out for a wider margin of safety before buying into that bullishness.    

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Fool contributor Brian Pacampara has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.