IREN (NASDAQ:IREN) Price Target Cut to $55.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan cut its IREN price target to $55 from $65 but maintained an “overweight” rating; the new target implies 156.16% upside from the prior close.
• Analyst sentiment remains broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average target of $64.57, though recent firms have also lowered targets.
• IREN shares traded at $21.47 on Monday, well below their 50-day and 200-day moving averages. The company’s latest quarterly loss per share was narrower than analysts expected, while revenue was slightly below estimates.

IREN (NASDAQ:IREN - Get Free Report) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $65.00 to $55.00 in a report released on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 156.16% from the company's previous close.

Other research analysts have also recently issued reports about the company. UBS Group reaffirmed an "overweight" rating on shares of IREN in a research report on Monday. Canaccord Genuity Group restated a "buy" rating and issued a $79.00 price objective on shares of IREN in a research note on Friday, August 28th. Morgan Stanley downgraded shares of IREN to a "buy" rating in a report on Wednesday, September 2nd. Sanford C. Bernstein reiterated an "outperform" rating and set a $100.00 target price on shares of IREN in a research report on Thursday, August 13th. Finally, HC Wainwright lowered their target price on shares of IREN from $74.00 to $56.00 and set a "buy" rating on the stock in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.57.

IREN Stock Performance

NASDAQ:IREN traded down $0.17 during trading hours on Monday, hitting $21.47. 69,649,065 shares of the company traded hands, compared to its average volume of 44,692,367. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.77. IREN has a twelve month low of $17.16 and a twelve month high of $70.71. The firm has a 50-day moving average of $35.87 and a 200 day moving average of $43.60. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of -5.29 and a beta of 4.33.

IREN (NASDAQ:IREN - Get Free Report) last posted its quarterly earnings results 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 net margin of 194.36% and a negative return on equity of 16.36%. The company had revenue of $228.00 million for the quarter, compared to analyst estimates of $228.26 million. On average, analysts forecast that IREN will post -0.49 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Allworth Financial LP lifted its holdings in IREN by 4.4% during the 2nd quarter. Allworth Financial LP now owns 7,162 shares of the company's stock valued at $328,000 after purchasing an additional 305 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of IREN by 14.5% in the second quarter. Versant Capital Management Inc now owns 2,509 shares of the company's stock valued at $115,000 after acquiring an additional 317 shares during the last quarter. Hollencrest Capital Management raised its stake in shares of IREN by 50.0% in the first quarter. Hollencrest Capital Management now owns 1,050 shares of the company's stock valued at $36,000 after acquiring an additional 350 shares during the last quarter. WealthPlan Investment Management LLC boosted its holdings in shares of IREN by 3.7% in the 3rd quarter. WealthPlan Investment Management LLC now owns 11,190 shares of the company's stock worth $457,000 after acquiring an additional 404 shares in the last quarter. Finally, Ascent Wealth Partners LLC boosted its holdings in shares of IREN by 2.6% in the 3rd quarter. Ascent Wealth Partners LLC now owns 15,866 shares of the company's stock worth $649,000 after acquiring an additional 404 shares in the last quarter. 41.08% of the stock is currently owned by institutional investors and hedge funds.

IREN News Roundup

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN reported fiscal Q1 AI-cloud revenue of $200 million, or most of its $228 million in total sales, and the business has a higher-margin profile. One analysis argued the shares could be substantially undervalued based on this growth. IREN could be undervalued on strong AI cloud revenue
• Positive Sentiment: JonesTrading upgraded IREN from Hold to Buy, setting a $40 price target. A Seeking Alpha contributor also upgraded the stock, citing IREN’s AI pivot. JonesTrading rating IREN’s AI pivot ends a sell rating
• Neutral Sentiment: IREN’s reported $20.3 billion backlog offers substantial contracted demand, but delivery timing and the investment needed to convert it into revenue remain key uncertainties. IREN’s $4 billion revenue goal delayed
• Negative Sentiment: IREN’s target of more than $4 billion in annual recurring revenue has shifted to early 2027. A delay to Microsoft-related deployments pushed more than $4 billion of contracted ARR into that period, prompting Cantor Fitzgerald to cut its price target to $47 from $99 and lower estimates. Cantor cuts IREN price target Microsoft deployment delay report
• Negative Sentiment: Rising costs and losses, a reported $6 billion funding gap, and broader worries about lending to AI data-center developers are adding pressure. HC Wainwright also reduced its price target, while concern about the delayed growth target has contributed to recent volatility. IREN’s revenue goal delay and funding concerns HC Wainwright price target reduction

About IREN

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.

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