IREN Limited (NASDAQ:IREN) Stock Has Consensus Price Target of $69.54

IREN Limited (NASDAQ:IREN) has earned a consensus recommendation of “Moderate Buy” from the twenty-two ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $64.57.

Several brokerages have recently weighed in on IREN. Cantor Fitzgerald cut their target price on IREN from $99.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday. HC Wainwright lowered their price target on IREN from $74.00 to $56.00 and set a “buy” rating for the company in a report on Friday. The Goldman Sachs Group reiterated a “neutral” rating and issued a $30.00 price target on shares of IREN in a research note on Friday. JPMorgan Chase & Co. cut their price objective on shares of IREN from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday. Finally, B. Riley Financial reduced their price objective on shares of IREN from $91.00 to $64.00 and set a “buy” rating for the company in a research report on Friday, October 30th.

Institutional Investors Weigh In On IREN

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Western Wealth Management LLC lifted its position in IREN by 23.0% in the third quarter. Western Wealth Management LLC now owns 11,564 shares of the company’s stock valued at $473,000 after acquiring an additional 2,162 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new position in IREN during the 3rd quarter worth approximately $416,000. Phoenix Financial Ltd. increased its holdings in shares of IREN by 11.7% in the 3rd quarter. Phoenix Financial Ltd. now owns 11,000 shares of the company’s stock valued at $451,000 after acquiring an additional 1,150 shares during the period. Eurizon Capital SGR S.p.A. boosted its stake in shares of IREN by 13.1% during the third quarter. Eurizon Capital SGR S.p.A. now owns 34,405 shares of the company’s stock worth $1,406,000 after buying an additional 3,990 shares during the period. Finally, R Squared Ltd acquired a new stake in IREN during the 3rd quarter worth approximately $218,000. 41.08% of the stock is currently owned by institutional investors and hedge funds.

IREN Stock Down 1.1%

IREN stock opened at $21.41 on Friday. IREN has a 1-year low of $17.16 and a 1-year high of $70.71. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.55 and a quick ratio of 3.55. The stock has a market cap of $8.44 billion, a PE ratio of -5.25 and a beta of 4.33. The stock’s fifty day moving average is $35.59 and its two-hundred day moving average is $43.44.

IREN (NASDAQ:IREN) last released its quarterly earnings data on Thursday, November 5th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.06. IREN had a negative return on equity of 15.46% and a negative net margin of 99.38%. The business had revenue of $228.00 million during the quarter, compared to analysts’ expectations of $228.26 million. On average, sell-side analysts expect that IREN will post -0.49 EPS for the current fiscal year.

IREN News Roundup

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN reported fiscal Q1 AI cloud revenue of about $200 million, nearly all of its $228 million in total revenue. One bullish analysis cited 182% quarter-over-quarter AI cloud growth and a 29% adjusted EBITDA margin as evidence that the business is scaling. IREN Could Be 70% Undervalued On Strong Q1 AI Cloud Revenue
• Positive Sentiment: The company plans to exit bitcoin mining by the end of 2026 and focus capital on AI data centers, aligning its business with demand for AI computing. JonesTrading upgraded the shares to Buy with a $40 target, though that target remains well below some earlier expectations. Why IREN Is Exiting Bitcoin Mining JonesTrading upgrade
• Neutral Sentiment: JPMorgan kept an Overweight rating but reduced its price target from $65 to $55. Cantor Fitzgerald also maintained Overweight while cutting its target sharply, from $99 to $47, reflecting a more cautious outlook despite potential upside from current levels. JPMorgan price target Cantor cuts IREN price target
• Negative Sentiment: IREN’s goal of more than $4 billion in annual recurring revenue has slipped to early 2027. Reports cite delayed customer deployments, including Microsoft-related capacity, alongside rising costs, ongoing losses, and a potential $6 billion funding gap. These issues raise doubts about how quickly the company can turn its large contracted backlog into revenue. IREN’s $4B Revenue Goal Delayed
• Negative Sentiment: Broader worries about lending to AI data-center developers add pressure to a capital-intensive expansion. The combination of deployment delays and financing needs is a key counterweight to IREN’s strong AI revenue growth. AI lending worries mount

IREN Company Profile

IREN Limited, formerly known as Iris Energy, develops and operates data centers for bitcoin mining and artificial intelligence cloud services. Its AI business provides access to high-performance computing infrastructure, including GPU-based services, for customers with demanding computing needs.

Founded in Australia in 2018 by brothers Daniel and Will Roberts, the company has expanded its data-center operations into North America, including locations in British Columbia, Canada, and Texas.