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 data software technologist Informatica Corporation (NASDAQ:INFA) plummeted 13% today after its quarterly results and outlook disappointed Wall Street.

So what: Informatica shares have pulled back sharply in 2014 on signs of slowing growth, and today's in-line Q2 results -- EPS of $0.35 on a revenue increase of just 13% -- coupled with downbeat guidance only reinforce that trend. On the bright side, subscription revenue during the quarter spiked 43%, while operating margin expanded 100 basis points year over year to 13%, suggesting Informatica's competitive position remains solid.

Now what: Management now sees Q3 EPS of $0.30-$0.35 on revenue of $245 million-$260 million, versus the consensus of $0.37 and $261 million.

"I would like to recognize the Informatica team for achieving a significant corporate milestone: exceeding $1 billion dollars in revenue over the past 12-month period," Chairman and CEO Sohaib Abbasi said in a statement. "We are positioned for sustained growth with an expansive product portfolio and an innovation plan that are well-aligned with the strategic priorities of our customers."

More importantly, with Informatica still boasting a pristine balance sheet and beaten-down stock price -- now off 30% from its 52-week highs -- the downside seems limited enough to buy into that turnaround talk. 

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Brian Pacampara has no position in any stocks mentioned. The Motley Fool recommends Informatica. 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.

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