Will This Downgrade Hurt RetailMeNot (SALE) Stock Today?

Story updated at 9:55 a.m. to reflect market activity.

NEW YORK (TheStreet) -- RetailMeNot (SALE) was downgraded to "hold" from "buy" by Stifel Nicolaus Friday.

RetailMeNot fell -6.2% to $23.67 in morning trading.

Stifel Nicolaus analysts noted that Google's (GOOG) new Search algorithm has cut organic traffic to the company's site.

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SALE Chart

SALE data by YCharts

"RetailMeNot Inc., operates digital coupon marketplace, connecting consumers with retailers and brands. As of December 31, 2012, the Company had contracts with more than 10,000 paid retailers. The Company owns and operates digital coupon Websites in the United States (RetailMeNot.com) and the United Kingdom (VoucherCodes.co.uk). The Company's Websites, mobile applications, e-mail newsletters and alerts and social media presence enable consumers to search for, discover and redeem digital coupons from retailers and brands. Its marketplace features digital coupons across multiple product categories, including clothing; electronics; health and beauty; home and office; travel, food and entertainment; personal and business services; and shoes. It aggregates digital coupons from retailers, performance marketing networks, its user community, its employees and outsourced providers. In April 2014, RetailMeNot Inc acquired Pickie Inc, a developer of mobile applications software."

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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