HC Wainwright Weighs in on IREN's Q2 Earnings (NASDAQ:IREN)

Key Points

• HC Wainwright raised its Q2 2027 EPS estimate for IREN to a loss of $0.54 per share from a prior estimate of $0.63, while maintaining a Buy rating and $90 price target.
• Analyst sentiment remains broadly positive, with IREN carrying a consensus “Moderate Buy” rating and an average price target of $81.57, despite ratings ranging from Sell to Strong Buy.
• IREN’s AI infrastructure expansion is attracting optimism, including a target of more than $4 billion in contracted annual recurring revenue, but investors face risks from delayed revenue conversion, rising costs and potentially significant capital and financing needs.

IREN Limited (NASDAQ:IREN - Free Report) - HC Wainwright raised their Q2 2027 earnings per share (EPS) estimates for IREN in a research note issued on Friday, August 28th. HC Wainwright analyst M. Colonnese now expects that the company will earn ($0.54) per share for the quarter, up from their previous estimate of ($0.63). HC Wainwright currently has a "Buy" rating and a $90.00 target price on the stock. The consensus estimate for IREN's current full-year earnings is ($0.11) per share. HC Wainwright also issued estimates for IREN's Q3 2027 earnings at ($0.28) EPS, Q4 2027 earnings at ($0.20) EPS and FY2027 earnings at ($1.61) EPS.

IREN has been the subject of a number of other research reports. Weiss Ratings lowered shares of IREN from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 7th. The Goldman Sachs Group restated a "neutral" rating on shares of IREN in a report on Monday, July 20th. Needham & Company LLC reissued a "hold" rating on shares of IREN in a research report on Tuesday, July 21st. Citigroup restated a "market outperform" rating on shares of IREN in a research note on Friday. Finally, Compass Point reaffirmed a "buy" rating and issued a $85.00 target price on shares of IREN in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $81.57.

IREN Price Performance

Shares of IREN stock opened at $37.12 on Tuesday. IREN has a 52 week low of $25.31 and a 52 week high of $76.87. The stock has a market cap of $13.27 billion, a PE ratio of -15.86 and a beta of 4.29. The company's 50-day moving average price is $40.80 and its two-hundred day moving average price is $45.48. The company has a current ratio of 3.55, a quick ratio of 3.55 and a debt-to-equity ratio of 1.80.

Hedge Funds Weigh In On IREN

Several institutional investors have recently modified their holdings of IREN. Corient Private Wealth LP bought a new position in shares of IREN during the second quarter worth about $415,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in IREN in the 2nd quarter valued at about $2,989,000. California State Teachers Retirement System boosted its stake in shares of IREN by 6,197.8% during the 2nd quarter. California State Teachers Retirement System now owns 22,963,091 shares of the company's stock worth $1,050,102,000 after acquiring an additional 22,598,469 shares during the period. Ameritas Advisory Services LLC boosted 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 purchasing an additional 22,954 shares during the period. Finally, HB Wealth Management LLC acquired a new position in IREN in the 2nd quarter valued at about $327,000. Institutional investors own 41.08% of the company's stock.

Key Headlines Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Co-CEO Daniel Roberts said customer prepayments and debt should fund most of IREN’s fiscal 2027 capital expenditures, with unencumbered data centers providing an additional financing option. This helped ease fears that the company would need a large equity offering to fund its expansion. IREN CEO says debt and prepayments can fund most of FY27 capex
• Positive Sentiment: IREN is targeting more than $4 billion in contracted annual recurring revenue by December, reflecting strong demand for its AI cloud capacity. Bullish analysts view its power and data-center infrastructure as valuable amid a shortage of sites available to AI developers and hyperscalers. IREN's $4B Contracted ARR: How Quickly Can It Convert Into Revenues?
• Positive Sentiment: Some analysts remain optimistic, with BTIG reiterating a Buy rating and another analyst assigning a highly bullish price target that implies substantial upside if IREN successfully executes its AI infrastructure strategy. BTIG Research Reiterates Buy Rating for IREN
• Neutral Sentiment: Most contracted ARR additions are expected to contribute meaningfully to revenue later, particularly around March 2027, because capacity is being added late in the current quarter. This supports the long-term outlook but limits near-term revenue acceleration. IREN's $4B Contracted ARR: How Quickly Can It Convert Into Revenues?
• Negative Sentiment: Bearish coverage highlighted a $30 billion capital-expenditure plan, a large reported loss and adjusted EBITDA that remains insufficient relative to stock-based compensation and investment needs. Critics argue that operating cash flow may be flattered by customer prepayments and deferred revenue. IREN: $19M Of Ebitda Against $30B Of CapEx
• Negative Sentiment: Investors also face execution risk from rising data-center component costs, delayed monetization of new capacity and the possibility that substantial financing needs ultimately pressure shareholders despite management’s funding assurances. IREN Stock Faces 3-Month Losing Streak After Q4 Miss

About IREN

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.

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