IREN Limited (NASDAQ:IREN) Stock Has Consensus Target Price of $69.54

Key Points

• Analysts have a Moderate Buy consensus on IREN, with 13 Buy and one Strong Buy rating among 19 firms; the average 12-month price target is $69.54. Some analysts have recently cut their targets, including Cantor Fitzgerald to $47.
• IREN’s fiscal Q1 2027 revenue rose 66% to $228 million, with AI cloud revenue nearly tripling sequentially to about $200 million. It reported a $0.66-per-share loss, narrower than expected, and a revenue backlog exceeding $20 billion.
• Execution and financing remain risks: deployment delays pushed the company’s $4 billion annualized-revenue goal into early 2027, while a $263 million net loss and substantial funding needs weigh on its outlook.

IREN Limited (NASDAQ:IREN - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the nineteen research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $69.54.

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald decreased their price objective on shares of IREN from $99.00 to $47.00 and set an "overweight" rating for the company in a report on Friday. Citigroup reiterated a "market outperform" rating on shares of IREN in a research report on Friday, August 28th. B. Riley Financial lowered their target price on shares of IREN from $91.00 to $64.00 and set a "buy" rating for the company in a report on Friday, October 30th. Morgan Stanley downgraded shares of IREN to a "buy" rating in a report on Wednesday, September 2nd. Finally, Northland Securities initiated coverage on IREN in a research note on Friday, September 18th. They issued an "outperform" rating and a $99.00 price objective for the company.

IREN Stock Performance

NASDAQ:IREN opened at $21.64 on Friday. The firm has a 50 day simple moving average of $35.87 and a 200-day simple moving average of $43.60. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.55 and a quick ratio of 3.55. The firm has a market cap of $8.53 billion, a PE ratio of -5.30 and a beta of 4.33. IREN has a 1-year low of $17.16 and a 1-year high of $70.71.

IREN (NASDAQ:IREN - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.06. The company had revenue of $228.00 million during the quarter, compared to analysts' expectations of $228.26 million. IREN had a negative net margin of 99.38% and a negative return on equity of 15.46%. On average, equities analysts expect that IREN will post -0.49 EPS for the current year.

IREN News Summary

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Fiscal Q1 2027 AI cloud revenue nearly tripled sequentially to about $200 million. Total revenue rose 66% to $228 million, and the adjusted loss per share was narrower than analysts expected—supporting the earnings-driven rebound. IREN stock rebounds as company's Q1 AI cloud revenue surges
• Positive Sentiment: The revenue backlog topped $20 billion, with roughly two-thirds attributed to investment-grade customers. A new five-year AI cloud agreement includes customer prepayment of 90% of GPU costs, which may help fund expansion. Iren: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: HC Wainwright and Cantor Fitzgerald cut their price targets to $56 and $47, respectively, while keeping Buy and Overweight ratings. The revised targets still imply substantial upside from the quoted share price, but the reductions reflect more cautious expectations. HC Wainwright rating information
• Negative Sentiment: IREN pushed its $4 billion annualized-revenue target into early 2027 after deployment delays, including at projects tied to Microsoft. These setbacks raise execution concerns and postpone expected growth. IREN Q1 Earnings Call Highlights AI Growth and Deployment Delays
• Negative Sentiment: Despite AI growth, IREN reported a $263 million net loss; Bitcoin mining revenue also fell sharply. Rising net debt and substantial remaining capital needs—including about $6 billion yet to be financed—could increase balance-sheet and dilution risks. IREN moves its $4 billion AI cloud goal into 2027

Institutional Investors Weigh In On IREN

Institutional investors have recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. lifted its holdings in IREN by 13.1% during the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 34,405 shares of the company's stock worth $1,406,000 after buying an additional 3,990 shares in the last quarter. R Squared Ltd acquired a new position in IREN during the third quarter worth approximately $218,000. Nan Fung Trinity HK Ltd. acquired a new position in IREN in the third quarter valued at $12,058,000. Jacobi Capital Management LLC bought a new position in IREN in the 3rd quarter worth about $100,000. Finally, Machina Capital S.A.S. bought a new position in IREN during the 3rd quarter valued at approximately $1,278,000. Hedge funds and other institutional investors own 41.08% of the company's stock.

IREN Company Profile

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.

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