HC Wainwright Estimates IREN's FY2026 Earnings (NASDAQ:IREN)

Key Points

• HC Wainwright cut its FY2026 EPS estimate for IREN to ($1.54) from ($1.22), but kept a Buy rating and $90 price target on the stock.
• The latest coverage continues to emphasize IREN’s pivot toward AI infrastructure, highlighting $2.8 billion in new AI cloud contracts and a raised 2026 AI Cloud ARR target above $4 billion.
• Despite the upbeat AI narrative, analysts are still lowering near-term earnings expectations, which suggests profitability may remain pressured as IREN invests heavily in growth.

IREN Limited (NASDAQ:IREN - Free Report) - Stock analysts at HC Wainwright dropped their FY2026 earnings per share (EPS) estimates for IREN in a research note issued on Wednesday, July 22nd. HC Wainwright analyst M. Colonnese now anticipates that the company will earn ($1.54) per share for the year, down from their previous forecast of ($1.22). HC Wainwright has a "Buy" rating and a $90.00 price target on the stock. The consensus estimate for IREN's current full-year earnings is ($1.85) per share. HC Wainwright also issued estimates for IREN's Q4 2026 earnings at ($0.60) EPS, Q1 2027 earnings at ($0.64) EPS, Q2 2027 earnings at ($0.63) EPS, Q3 2027 earnings at ($0.37) EPS, Q4 2027 earnings at ($0.16) EPS and FY2027 earnings at ($1.79) EPS.

Several other analysts also recently weighed in on the company. Jefferies Financial Group began coverage on IREN in a report on Thursday, June 18th. They issued a "buy" rating and a $79.00 price objective for the company. Sanford C. Bernstein set a $96.00 target price on shares of IREN in a research report on Thursday, June 4th. Canaccord Genuity Group restated a "buy" rating and issued a $79.00 price target on shares of IREN in a report on Tuesday. Needham & Company LLC restated a "hold" rating on shares of IREN in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price target on shares of IREN from $39.00 to $46.00 and gave the stock an "underweight" rating in a research report on Monday, May 11th. One investment 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $82.71.

IREN Price Performance

IREN opened at $40.58 on Friday. IREN has a 12-month low of $14.72 and a 12-month high of $76.87. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.44. The business's fifty day simple moving average is $51.00 and its 200-day simple moving average is $47.67. The company has a market capitalization of $14.50 billion, a price-to-earnings ratio of 84.54 and a beta of 4.27.

IREN (NASDAQ:IREN - Get Free Report) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The firm had revenue of $144.79 million for the quarter, compared to analysts' expectations of $219.69 million. IREN had a negative return on equity of 13.13% and a net margin of 20.90%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of IREN. Marex Group plc grew its holdings in IREN by 14,216.7% in the fourth quarter. Marex Group plc now owns 4,471,263 shares of the company's stock worth $168,880,000 after purchasing an additional 4,440,032 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of IREN during the fourth quarter worth $158,677,000. Clear Street Group Inc. acquired a new position in shares of IREN during the fourth quarter worth $137,075,000. Situational Awareness LP lifted its holdings in shares of IREN by 90.1% during the 2nd quarter. Situational Awareness LP now owns 6,400,384 shares of the company's stock valued at $93,254,000 after purchasing an additional 3,034,254 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in shares of IREN by 1,022.2% during the 4th quarter. Quadrature Capital Ltd now owns 2,870,637 shares of the company's stock valued at $108,424,000 after purchasing an additional 2,614,835 shares during the last quarter. Institutional investors own 41.08% of the company's stock.

Trending Headlines about IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: HC Wainwright kept a Buy rating and $90 price target on IREN, signaling continued confidence in the stock’s upside despite the latest estimate revisions.
• Positive Sentiment: Recent coverage continues to highlight IREN’s $2.8 billion in new AI cloud contracts and a raised 2026 AI Cloud ARR target above $4 billion, reinforcing the company’s shift from bitcoin mining toward AI infrastructure.
• Neutral Sentiment: Multiple analyst notes this week focused on IREN’s longer-term earnings profile, with HC Wainwright adjusting several future-quarter EPS estimates, suggesting investors are still refining expectations around the company’s rapid growth and heavy investment cycle.
• Negative Sentiment: HC Wainwright lowered FY2026, Q1 2027, Q3 2027, Q4 2027, and FY2027 earnings estimates, which can pressure sentiment by indicating that near-term profitability may be weaker than previously expected.
• Negative Sentiment: The stock has also been volatile after a sharp run-up on AI deal news, so some of today’s weakness may reflect profit-taking as investors reassess valuation after the recent rally.

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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