IREN (NASDAQ:IREN) Receives Buy Rating from BTIG Research

Key Points

• BTIG Research reaffirmed its Buy rating on IREN with an $80 price target, implying approximately 97% upside from the prior close. Analysts collectively rate the stock “Moderate Buy,” with a consensus target of $83.
• IREN shares opened at $40.53 and have traded between $22.63 and $76.87 over the past year. The company reported quarterly revenue of $137.2 million and a $0.41 per-share loss, both better than analyst expectations.
• Institutional ownership increased, highlighted by a major stake expansion from the California State Teachers’ Retirement System; hedge funds and other institutions now own 41.08% of IREN. Investors remain focused on the company’s shift from Bitcoin mining toward AI data-center infrastructure and whether its contracted capacity can become profitable.

IREN (NASDAQ:IREN - Get Free Report)'s stock had its "buy" rating reaffirmed by BTIG Research in a note issued to investors on Friday,Benzinga reports. They currently have a $80.00 price objective on the stock. BTIG Research's price objective points to a potential upside of 97.38% from the company's previous close.

IREN has been the subject of several other reports. JPMorgan Chase & Co. increased their target price on shares of IREN from $39.00 to $46.00 and gave the company an "underweight" rating in a research note on Monday, May 11th. Weiss Ratings cut IREN from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, July 7th. Needham & Company LLC reiterated a "hold" rating on shares of IREN in a research report on Tuesday, July 21st. Compass Point reissued a "buy" rating on shares of IREN in a research note on Tuesday, July 21st. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating on shares of IREN in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $83.00.

IREN Trading Up 2.4%

Shares of IREN stock opened at $40.53 on Friday. The business has a fifty day simple moving average of $41.68 and a 200-day simple moving average of $45.59. IREN has a fifty-two week low of $22.63 and a fifty-two week high of $76.87. The firm has a market cap of $14.48 billion, a price-to-earnings ratio of 84.44 and a beta of 4.29. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.44.

IREN (NASDAQ:IREN - Get Free Report) last issued 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. 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 for the quarter, compared to analysts' expectations of $132.29 million. On average, equities analysts forecast that IREN will post -1.41 EPS for the current fiscal year.

Hedge Funds Weigh In On IREN

Several institutional investors and hedge funds have recently modified their holdings of IREN. Corient Private Wealth LP purchased a new stake in shares of IREN during the second quarter worth $415,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in IREN in the second quarter valued at about $2,989,000. California State Teachers Retirement System grew 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 in the last quarter. Ameritas Advisory Services LLC increased its position in IREN by 185.9% in the 2nd quarter. Ameritas Advisory Services LLC now owns 35,304 shares of the company's stock worth $1,614,000 after purchasing an additional 22,954 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new position in IREN in the 2nd quarter worth about $327,000. 41.08% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting 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, 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source