IREN (NASDAQ:IREN) Rating Increased to Strong-Buy at Freedom Capital

IREN (NASDAQ:IREN) was upgraded by equities research analysts at Freedom Capital from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on IREN. Canaccord Genuity Group boosted their price target on shares of IREN from $70.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. B. Riley Financial lifted their price objective on shares of IREN from $88.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. The Goldman Sachs Group set a $50.00 target price on shares of IREN in a research note on Wednesday, May 27th. JPMorgan Chase & Co. increased their target price on IREN from $39.00 to $46.00 and gave the company an “underweight” rating in a report on Monday, May 11th. Finally, Sanford C. Bernstein set a $96.00 target price on IREN in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, IREN has an average rating of “Moderate Buy” and an average price target of $82.36.

IREN Trading Down 9.3%

IREN traded down $4.07 during trading on Monday, reaching $39.84. The company had a trading volume of 10,395,258 shares, compared to its average volume of 41,956,555. The firm’s 50-day simple moving average is $54.55 and its 200 day simple moving average is $47.68. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72. The company has a market cap of $14.24 billion, a price-to-earnings ratio of 83.25 and a beta of 4.27. IREN has a 12-month low of $14.72 and a 12-month high of $76.87.

IREN (NASDAQ:IREN) last announced its earnings results on Friday, May 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). IREN had a negative return on equity of 13.13% and a net margin of 20.90%.The firm had revenue of $144.79 million during the quarter, compared to analyst estimates of $219.69 million. Equities research analysts anticipate that IREN will post -1.25 earnings per share for the current year.

Institutional Investors Weigh In On IREN

A number of institutional investors have recently modified their holdings of IREN. Miller Wealth Advisors LLC grew its holdings in shares of IREN by 240.0% during the 4th quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock valued at $26,000 after acquiring an additional 480 shares in the last quarter. North Star Investment Management Corp. purchased a new stake in shares of IREN during the fourth quarter worth $26,000. Clearstead Trust LLC acquired a new stake in IREN during the fourth quarter valued at $27,000. Aventura Private Wealth LLC acquired a new stake in IREN during the fourth quarter valued at $28,000. Finally, Motco purchased a new position in IREN in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

IREN News Summary

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Reports that Anthropic is considering IREN for a massive Australian AI cloud tender have raised hopes for a major new revenue opportunity and reinforced the company’s AI data center growth story. Anthropic’s A$22 Billion Australian AI Cloud Tender Might Change The Case For Investing In IREN
• Positive Sentiment: Bernstein reiterated a Buy rating and a $100 target, suggesting meaningful upside and helping fuel the rebound after recent weakness. IREN Ltd (IREN) Is One Of The Top Underperforming Data Center Stocks To Buy
• Positive Sentiment: Analyst coverage highlighted IREN as one of the better AI/data-center names to own on the recent pullback, supporting the idea that investors are rotating back into the stock. IREN Stock Soars as Analyst Says Buy the Dip
• Neutral Sentiment: Coverage comparing IREN with other former Bitcoin miners, including TeraWulf, is reinforcing the broader narrative that AI contracts could re-rate the sector, but no deal has been confirmed for IREN yet. TeraWulf and IREN just joined Anthropic’s growing club of former Bitcoin miners
• Neutral Sentiment: Additional articles noted that IREN had been in a recent downtrend before the Anthropic speculation sparked buying, suggesting the move is partly a sentiment rebound rather than a fundamental announcement. Why Is IREN Stock Rising in Pre-Market Today — July 6, 2026?
• Negative Sentiment: Some commentary reminded investors that Anthropic’s Australia capacity plans are still speculative and based on leaked or reported documents, so execution and contract risk remain high. Does IREN Have the Inside Track on This $22 Billion Opportunity?

IREN Company Profile

IREN Limited, formerly known as Iris Energy Limited, owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.