IREN (IREN) Projected to Post Quarterly Earnings on Thursday

Key Points

• IREN will report Q3 2026 results after the market closes on Thursday, May 7, with analysts forecasting EPS of ($0.2159) and revenue of $219.763 million (conference call scheduled for May 13 at 5:00 PM ET).
• In the prior quarter IREN missed estimates (EPS -$0.44 vs. -$0.07) and revenue fell 23.1% year‑over‑year to $184.69 million, and investor concern over dilution has risen after an expanded ATM program (up to $6.0B) that could weigh on the stock near term.
• Bernstein is constructive on IREN’s long‑term AI/cloud pivot—recommending a move away from Bitcoin mining—while Wall Street consensus is a "Moderate Buy" with an average price target of $70.08, though analysts warn of short‑term execution and timing risk.

IREN (NASDAQ:IREN - Get Free Report) is expected to issue its Q3 2026 results after the market closes on Thursday, May 7th. Analysts expect the company to announce earnings of ($0.2159) per share and revenue of $219.7630 million for the quarter. Parties can find conference call details on the company's upcoming Q3 2026 earning report page for the latest details on the call scheduled for Wednesday, May 13, 2026 at 5:00 PM ET.

IREN (NASDAQ:IREN - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.37). IREN had a negative return on equity of 10.01% and a net margin of 56.59%.The business had revenue of $184.69 million during the quarter, compared to analysts' expectations of $229.64 million. The company's revenue for the quarter was down 23.1% compared to the same quarter last year. On average, analysts expect IREN to post $-1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

IREN Trading Down 3.6%

Shares of NASDAQ IREN opened at $42.86 on Thursday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 4.96 and a current ratio of 4.96. The business's 50 day moving average price is $41.65 and its 200-day moving average price is $47.13. IREN has a fifty-two week low of $5.72 and a fifty-two week high of $76.87. The company has a market cap of $14.24 billion, a price-to-earnings ratio of 32.23 and a beta of 4.30.

Key IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Bernstein remains constructive on IREN’s long‑term AI strategy, saying the company is likely to phase out Bitcoin mining and reallocate capacity to AI/cloud, forecasting material EBITDA and very high margins by 2030 — a bullish structural thesis that supports higher long‑term valuation. IREN Likely to Abandon Bitcoin Mining to Go All-In on AI, Says Bernstein
• Neutral Sentiment: Some analysts trimmed price targets for Microsoft‑linked crypto/AI names (including IREN) despite acknowledging the AI pivot; that suggests the market is re‑pricing timing and execution risk even where the strategic direction is viewed positively. Analysts trim Microsoft-linked crypto stock's target despite AI push
• Negative Sentiment: Investors are worried about dilution after IREN expanded its at‑the‑market (ATM) program (up to $6.0B) and having already sold a large block under the prior prospectus; expanded ATM capacity and actual sales raise the overhang risk and can pressure the stock near term. IREN slides as a key analyst trims its price target and investors refocus on potential dilution from an expanded ATM program
• Negative Sentiment: Recent quarterly results missed expectations on both EPS and revenue, and revenue has fallen year‑over‑year — a reminder that the transition to AI won't immediately offset current mining weakness or justify higher multiples without visible margin and revenue inflection. IREN Stock Dips 4.5% Following Q Earnings Miss Despite Bernstein’s Continued Support
• Negative Sentiment: Coverage notes and market commentaries highlight rising AI spending and execution risk; some analysts cut targets or flagged short‑term valuation concerns, amplifying selling pressure after a strong prior run. Stock Market Today, April 28: Iren Falls on AI Spending Concerns and Analyst Price Cut

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on IREN shares. B. Riley Financial reissued a "buy" rating on shares of IREN in a research note on Friday, February 6th. Freedom Capital raised IREN to a "hold" rating in a research note on Wednesday, April 1st. Canaccord Genuity Group reissued a "buy" rating and issued a $70.00 price objective on shares of IREN in a research note on Tuesday, February 10th. HC Wainwright raised IREN from a "sell" rating to a "buy" rating and set a $80.00 price objective on the stock in a research note on Tuesday, January 13th. Finally, Cantor Fitzgerald dropped their price objective on IREN to $61.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Thirteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, IREN currently has a consensus rating of "Moderate Buy" and an average price target of $70.08.

Institutional Trading of IREN

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arax Advisory Partners boosted its position in IREN by 306.2% during the 4th quarter. Arax Advisory Partners now owns 979 shares of the company's stock valued at $37,000 after acquiring an additional 738 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in IREN during the 3rd quarter valued at $67,000. CIBC Private Wealth Group LLC boosted its position in IREN by 113.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the company's stock valued at $75,000 after acquiring an additional 850 shares in the last quarter. Larson Financial Group LLC boosted its position in IREN by 26.7% during the 3rd quarter. Larson Financial Group LLC now owns 1,590 shares of the company's stock valued at $75,000 after acquiring an additional 335 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in IREN by 54.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,463 shares of the company's stock valued at $152,000 after acquiring an additional 3,684 shares in the last quarter. Institutional investors own 41.08% of the company's stock.

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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