ANGI shares jump 12.5% after-hours after KeyBanc reiterates Overweight rating, citing AI-driven cost cuts and EBITDA growth from 350 job cuts.

ANGI surged 12.5% in after-hours trading following KeyBanc Capital Markets’ reiteration of an Overweight rating and $17.00 price target, citing ANGI’s 95% gross profit margins and strategic workforce reductions. The firm highlighted that cutting 350 global jobs—aimed at saving $70–$80M—would enhance AI-driven cost efficiencies and free capital for growth reinvestment, potentially boosting EBITDA. These measures align with management’s 2026 growth plans, emphasizing normalized revenue and margin expansion. While Goldman Sachs lowered its price target to $27.00 post-earnings, KeyBanc’s optimism and operational restructuring appear to have driven the sharp after-hours rally. Irrelevant news (e.g., unrelated adult content) was excluded.