IREN (NASDAQ:IREN) Price Target Cut to $47.00 by Analysts at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald cut its IREN price target to $47 from $99 but maintained an “overweight” rating; the new target implies about 161% upside from the stock’s cited current price. Analysts’ consensus target is $72.15, with an overall “Moderate Buy” rating.
• IREN’s fiscal Q1 2027 revenue rose 66% sequentially to $228 million, and AI Cloud revenue nearly tripled to about $200 million, showing growth in its AI infrastructure business.
• Growth carries execution and financial risks: some Microsoft-related deliveries were delayed, the company plans substantial expansion spending, and bitcoin mining revenue reportedly fell 58% amid a $263 million net loss.

IREN (NASDAQ:IREN - Get Free Report) had its price objective dropped by equities researchers at Cantor Fitzgerald from $99.00 to $47.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's target price suggests a potential upside of 160.68% from the stock's current price.

A number of other equities analysts have also weighed in on the stock. B. Riley Financial decreased their price target on shares of IREN from $91.00 to $64.00 and set a "buy" rating on the stock in a report on Friday, October 30th. JPMorgan Chase & Co. upgraded IREN from an "underweight" rating to an "overweight" rating and upped their price objective for the stock from $46.00 to $65.00 in a report on Monday, September 14th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $100.00 target price on shares of IREN in a research report on Thursday, August 13th. BTIG Research reiterated a "buy" rating on shares of IREN in a report on Friday. Finally, Weiss Ratings cut IREN from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, IREN has an average rating of "Moderate Buy" and a consensus target price of $72.15.

IREN Price Performance

IREN stock opened at $18.03 on Friday. IREN has a 1 year low of $17.16 and a 1 year high of $75.79. The firm has a 50 day moving average price of $36.25 and a 200 day moving average price of $43.77. The company has a market cap of $7.10 billion, a price-to-earnings ratio of -7.71 and a beta of 4.33. The company has a debt-to-equity ratio of 1.80, a quick ratio of 3.55 and a current ratio of 3.55.

Institutional Investors Weigh In On IREN

Institutional investors have recently bought and sold shares of the business. Situational Awareness LP grew its holdings in IREN by 34.5% during the 1st quarter. Situational Awareness LP now owns 11,698,835 shares of the company's stock valued at $401,036,000 after purchasing an additional 2,998,214 shares in the last quarter. Bank of America Corp DE lifted its holdings in IREN by 58.4% in the 1st quarter. Bank of America Corp DE now owns 2,138,619 shares of the company's stock worth $73,312,000 after buying an additional 788,547 shares in the last quarter. Swiss National Bank purchased a new position in IREN in the 1st quarter valued at about $33,032,000. Amundi boosted its position in IREN by 3,865.8% in the 1st quarter. Amundi now owns 845,113 shares of the company's stock valued at $28,970,000 after buying an additional 823,803 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of IREN during the first quarter valued at about $20,878,000. 41.08% of the stock is currently owned by hedge funds and other institutional investors.

Key IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Fiscal Q1 2027 revenue rose 66% sequentially to $228 million, while AI Cloud revenue nearly tripled to about $200 million. IREN also reported a smaller-than-expected per-share loss and a 29% adjusted EBITDA margin. IREN Reports Q1 FY27 Results
• Positive Sentiment: The results offered evidence that IREN’s AI infrastructure transition is generating meaningful revenue, supporting investor interest in its growth prospects. IREN stock jumps as FQ1 net loss narrows, AI cloud revenue nearly triples
• Neutral Sentiment: Management’s plan to spend heavily on expansion—including a reported $15 billion investment push—could support long-term AI capacity, but also raises financing and execution questions. AI data center firm IREN delays Microsoft AI deliveries, plans $15 billion spending push
• Negative Sentiment: Some Microsoft-related AI infrastructure deliveries have been delayed, shifting IREN’s target of more than $4 billion in annualized revenue to January. Reports of project delays and tighter customer oversight raise concerns about the pace of future growth. Neocloud IREN says $4 billion in annualized revenue being delayed due to customer request
• Negative Sentiment: Bitcoin mining revenue reportedly fell 58%, while IREN recorded a $263 million net loss. Bitcoin weakness and broader selling in AI data-center stocks add pressure beyond the company’s execution challenges. IREN Stock Falls as Bitcoin Mining Revenue Drops and AI Expansion Accelerates

About IREN

IREN Limited, formerly known as Iris Energy Limited, is a data center infrastructure company focused on bitcoin mining and high-performance computing. The company develops and operates data centers designed to support energy-intensive computing applications, including bitcoin mining and artificial intelligence (AI) cloud services.

IREN's operations are supported by company-owned electrical infrastructure, data centers and computing hardware. Its bitcoin mining business uses specialized application-specific integrated circuit (ASIC) machines, while its AI cloud offering is designed to provide access to advanced computing resources for AI development and other high-performance computing workloads.

Founded in 2018 and headquartered in Sydney, Australia, IREN has developed data center operations in North America, including facilities in British Columbia, Canada, and Texas.

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.