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Investing.com — Shares of Match Group Inc (NASDAQ:MTCH) gained 6.8% on Thursday, despite Cowen cutting its price target to $134 from $150.
Analyst John Blackledge kept an outperform rating on the shares but said he expects the company to be impacted by macro headwinds.
Blackledge believes the company’s first-quarter earnings, which it is set to report next Tuesday after the close, will be impacted by foreign exchange headwinds, the Russia-Ukraine conflict, and global Covid-19 trends.
On Tuesday, JPMorgan analyst Cory Carpenter cut the price target on Match Group to $135 from $165 based on those same factors. However, Carpenter sees some offset from a strong reopening in the U.S. and Western Europe.
Match shares are down more than 30% in 2022.
