IREN (NASDAQ:IREN) Earns "Overweight" Rating from Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reaffirmed its “overweight” rating on IREN and set a $99 price target, implying approximately 144% upside from the stock’s $40.53 opening price.
• IREN reported quarterly revenue of $137.22 million, exceeding estimates of $132.29 million, while its $0.41 per-share loss was narrower than the expected $0.55 loss.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and average price target of $83, although the company faces risks from a reported $702.6 million full-year net loss and costly Bitcoin-mining hardware decommissioning.

IREN (NASDAQ:IREN - Get Free Report)'s stock had its "overweight" rating reissued by research analysts at Cantor Fitzgerald in a report issued on Friday,Benzinga reports. They currently have a $99.00 target price on the stock. Cantor Fitzgerald's price target indicates a potential upside of 144.26% from the stock's current price.

Other equities analysts have also recently issued reports about the company. Weiss Ratings cut IREN from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, July 7th. Compass Point reissued a "buy" rating on shares of IREN in a report on Tuesday, July 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of IREN in a research note on Tuesday, July 21st. Sanford C. Bernstein restated an "outperform" rating and set a $100.00 target price on shares of IREN in a report on Thursday, August 13th. Finally, Jefferies Financial Group started coverage on shares of IREN in a research report on Thursday, June 18th. They issued a "buy" rating and a $79.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, IREN currently has an average rating of "Moderate Buy" and an average price target of $83.00.

IREN Trading Up 2.4%

Shares of IREN stock opened at $40.53 on Friday. The company has a 50-day moving average of $41.68 and a two-hundred day moving average of $45.59. IREN has a 12-month low of $22.63 and a 12-month high of $76.87. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.44. The stock has a market cap of $14.48 billion, a PE ratio of 84.44 and a beta of 4.29.

IREN (NASDAQ:IREN - Get Free Report) last announced its quarterly earnings results on Thursday, August 27th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.14. The business had revenue of $137.22 million for the quarter, compared to analyst estimates of $132.29 million. IREN had a negative return on equity of 13.13% and a net margin of 20.90%. On average, research analysts anticipate that IREN will post -1.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Corient Private Wealth LP acquired a new stake in shares of IREN during the second quarter worth $415,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in IREN in the second quarter valued at $2,989,000. California State Teachers Retirement System increased its stake in IREN by 6,197.8% in the second quarter. California State Teachers Retirement System now owns 22,963,091 shares of the company's stock valued at $1,050,102,000 after purchasing an additional 22,598,469 shares during the last quarter. Ameritas Advisory Services LLC lifted its position in IREN by 185.9% during the second quarter. Ameritas Advisory Services LLC now owns 35,304 shares of the company's stock worth $1,614,000 after buying an additional 22,954 shares during the period. Finally, HB Wealth Management LLC purchased a new position in IREN during the second quarter worth about $327,000. Hedge funds and other institutional investors own 41.08% of the company's stock.

IREN News Roundup

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, while its $0.41 per-share loss was narrower than the expected $0.55 loss. IREN quarterly earnings report
• Positive Sentiment: The company announced a new multiyear contract with a leading frontier AI laboratory, bringing contracted annualized recurring revenue for 2026 capacity to about $4 billion, including approximately $1 billion of operating ARR today. IREN FY26 results
• Positive Sentiment: IREN said $2.8 billion of GPU financing will fund about 90% of associated GPU capital expenditures, potentially reducing near-term equity funding needs as it expands toward roughly 1.2 gigawatts of AI data-center capacity. IREN contracted ARR and capex report
• Positive Sentiment: A reported first live AI workload for Microsoft and continued strength in Bitcoin near $80,000 support the company’s AI-hosting transition and remaining cryptocurrency exposure. IREN Microsoft AI workload report
• Neutral Sentiment: Investors remain focused on whether IREN can convert its sold-out AI capacity and large contracted revenue base into profitable, delivered capacity; management is targeting $25 billion–$30 billion of fiscal 2027 capital expenditure. IREN AI capacity analysis
• Negative Sentiment: IREN disclosed a roughly $702.6 million full-year net loss, including a reported $684 million loss tied to decommissioning Bitcoin-mining hardware. The impairment highlights the cost of shifting resources from mining to AI infrastructure. IREN hardware decommissioning report
• Negative Sentiment: Neocloud shares, including IREN, weakened after reports that Nvidia shelved proposed revenue-sharing deals, raising concerns about customer economics and the funding model for AI data-center operators. J.P. Morgan also maintained a Sell rating. Neocloud stocks and Nvidia report

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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