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 travel special provider Travelzoo (Nasdaq: TZOO) fell 17% today after the company announced earnings.

So what: Earnings per share of $0.23 beat expectations of $0.20, but it wasn't enough to keep investors from fleeing today. Investors have gotten used to Travelzoo not just meeting estimates but crushing them, so a $0.03 beat is a bit of a letdown this quarter.

Now what: This stock may have gotten a little too big for its britches leading to today's crash. A trailing P/E ratio of 54.8 is awfully expensive, and earnings per share have leveled out over the last three quarters instead of continuing their meteoric rise. Travelzoo is just a little too expensive for this Fool, so I am going to leave shares alone until I see this stock as a better value.

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

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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