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: BroadSoft (Nasdaq: BSFT) popped 45% in intraday trading today after reporting fourth-quarter EPS that walloped the consensus estimate and issuing encouraging guidance for the first quarter and 2011.

So what: Fourth-quarter, non-GAAP EPS was $0.44, compared with a consensus estimate of $0.30. Revenue grew 85% year-over-year, while GAAP EPS of $0.41 grew 720%. 

Now what: Management expects non-GAAP EPS of $0.04 to $0.11 for the first quarter and $0.56 to $0.66 for 2011, compared with consensus estimates of $0.04 and $0.56, respectively. Guidance also called for 2011 revenue of $116 million to $120 million (growth of 21% to 25%) and GAAP EPS of $0.35 to $0.45 (growth of 9% to 41%). Given the range of expected EPS growth, the stock appears pricey at a forward P/E of 74 to 87 times non-GAAP EPS and 108 to 139 times GAAP EPS.

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

Fool contributor Cindy Johnson does not own shares of any company named above. 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.