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) sank 10% today after the business software specialist's quarterly results and outlook disappointed Wall Street.

So what: The stock had pulled back pulled back sharply in recent months on signs of slowing growth, and today's first-quarter results -- loss of $0.11 per share on a revenue increase of 15% -- coupled with just "in-line" guidance only reinforce that trend. On the bright side, Qlik said it achieved several key milestones in the launch of its new product platform, QlikView.Next, suggesting that its longer-term prospects remain attractive.

Now what: Management now sees full-year earnings per share of $0.23-$0.27 on revenue of $545 million-$555 million, bracketing the Wall Street view of $0.25 and $550.4 million. "Because we will sell, support and enhance the current QlikView 11 platform for years to come, our customers and partners can continue to invest in this highly appreciated product," said CEO Lars Bjork in a press release. "Additionally, we are confident our QlikView.Next platform will support more user profiles and use cases. Together, these offerings enhance the value we deliver to our customers and expand our addressable market." More important, with Qlik still boasting a cash-rich balance sheet and its shares hitting a new 52-week low today, the downside seems limited enough to buy into that potential.