IREN (NASDAQ:IREN) Earns “Buy” Rating from Canaccord Genuity Group

IREN (NASDAQ:IREN)‘s stock had its “buy” rating reissued by investment analysts at Canaccord Genuity Group in a report released on Friday,Benzinga reports. They presently have a $79.00 target price on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 94.92% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of IREN from $39.00 to $46.00 and gave the stock an “underweight” rating in a research report on Monday, May 11th. Weiss Ratings cut shares of IREN from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 7th. Citigroup reissued a “market outperform” rating on shares of IREN in a research note on Friday. Sanford C. Bernstein restated an “outperform” rating and issued a $100.00 price objective on shares of IREN in a report on Thursday, August 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of IREN in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and two have issued 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 target price of $83.00.

IREN Price Performance

IREN opened at $40.53 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.72 and a quick ratio of 3.72. IREN has a 1 year low of $22.63 and a 1 year high of $76.87. The stock’s 50 day simple moving average is $41.68 and its 200 day simple moving average is $45.59. The firm has a market cap of $14.48 billion, a price-to-earnings ratio of 84.44 and a beta of 4.29.

IREN (NASDAQ:IREN) last issued its quarterly earnings data on Thursday, August 27th. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.14. IREN had a net margin of 20.90% and a negative return on equity of 13.13%. The firm had revenue of $137.22 million during the quarter, compared to the consensus estimate of $132.29 million. As a group, analysts predict that IREN will post -1.41 earnings per share for the current year.

Institutional Trading of IREN

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. boosted its stake in IREN by 45.9% during the second quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock worth $43,341,000 after acquiring an additional 936,333 shares in the last quarter. StoneX Group Inc. purchased a new stake in shares of IREN in the 2nd quarter worth approximately $158,000. NewEdge Advisors LLC increased its position in IREN by 245.0% during the 2nd quarter. NewEdge Advisors LLC now owns 43,281 shares of the company’s stock valued at $631,000 after buying an additional 30,736 shares in the last quarter. Sei Investments Co. bought a new stake in IREN in the second quarter worth $2,333,000. Finally, Peapack Gladstone Financial Corp increased its holdings in shares of IREN by 30.0% during the second quarter. Peapack Gladstone Financial Corp now owns 18,200 shares of the company’s stock valued at $265,000 after acquiring an additional 4,200 shares in the last quarter. 41.08% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN reported fiscal fourth-quarter revenue of approximately $137.2 million, exceeding the roughly $132.3 million consensus estimate. Its adjusted loss of $0.41 per share was also narrower than the expected $0.55 loss. IREN Limited Reports Q4 Loss, Beats Revenue Estimates
• Positive Sentiment: The AI infrastructure pivot is gaining commercial traction: IREN disclosed approximately $4 billion of contracted annual recurring revenue for 2026 capacity, about $1 billion of operating ARR currently, a new multiyear contract with a leading frontier AI lab, and its first live AI workload for Microsoft. AI cloud revenue reportedly grew 110%. IREN Reports FY26 Results
• Positive Sentiment: Funding visibility remains a key bullish factor. IREN said $2.8 billion of GPU financing will fund about 90% of associated GPU capital expenditures. Cantor Fitzgerald reaffirmed an “overweight” rating with a $99 price target, while BTIG maintained a “buy” rating and an $80 target. Analyst Ratings
• Neutral Sentiment: Management plans an aggressive expansion toward roughly 1.2 gigawatts of AI capacity and expects a more significant revenue ramp in early 2027. However, the strategy requires approximately $25 billion-$30 billion of fiscal 2027 capital expenditure, making execution, financing and customer deployment important near-term catalysts.
• Negative Sentiment: The headline issue was a roughly $639 million writedown of Bitcoin-mining rigs as IREN decommissions legacy equipment. That contributed to a reported net loss of approximately $684 million-$703 million for fiscal 2026 and overshadowed the AI growth milestones. IREN Falls as Mining Rig Writedown Overshadows AI Cloud Growth
• Negative Sentiment: Investors are also concerned about heavy upfront hiring and spending, declining legacy mining revenue, high valuation and substantial execution risk. Reports that Nvidia has shelved certain neocloud revenue-sharing arrangements added pressure across the sector, including IREN. Neocloud Stocks Fall After Nvidia Revenue-Sharing Reports

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.