IREN (NASDAQ:IREN) Price Target Raised to $80.00 at BTIG Research

Key Points

• BTIG raised its price target to $80 and keeps a "buy" rating on IREN, implying roughly a 40.7% upside; the consensus analyst target is about $70.85 with 13 buys, 4 holds and 2 sells.
• Transformational NVIDIA deal and strategic expansion: IREN signed a five‑year AI cloud services contract (~$3.4 billion) and partnership to deploy up to ~5GW (≈150,000 GPUs), while NVIDIA holds an option to buy up to 30 million shares at $70 (up to ~$2.1B), and IREN agreed to acquire ~490MW via Ingenostrum to build European capacity.
• Near‑term execution and financial risks remain: IREN recently missed revenue and EPS estimates as it shifts from bitcoin mining to AI cloud, and large capex, permitting, acquisitions and potential dilution from NVIDIA’s option could delay or temper upside unless build‑out milestones and customer ramps materialize.

IREN (NASDAQ:IREN - Get Free Report) had its target price increased by equities researchers at BTIG Research to $80.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's price target would indicate a potential upside of 40.72% from the stock's previous close.

A number of other brokerages also recently commented on IREN. Weiss Ratings downgraded IREN from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, April 22nd. B. Riley Financial restated a "buy" rating on shares of IREN in a research note on Friday, February 6th. Freedom Capital upgraded IREN to a "hold" rating in a research note on Wednesday, April 1st. Canaccord Genuity Group restated a "buy" rating and issued a $70.00 target price on shares of IREN in a research note on Tuesday, February 10th. Finally, Cantor Fitzgerald lowered their target price on IREN to $61.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Thirteen analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $70.85.

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IREN Stock Performance

Shares of IREN stock opened at $56.85 on Friday. IREN has a 1-year low of $6.76 and a 1-year high of $76.87. The company has a current ratio of 4.96, a quick ratio of 4.96 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $18.89 billion, a price-to-earnings ratio of 42.74 and a beta of 4.17. The stock's fifty day simple moving average is $42.59 and its 200-day simple moving average is $46.71.

IREN (NASDAQ:IREN - Get Free Report) last issued its earnings results on Thursday, February 5th. The company reported ($0.44) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.37). IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The firm had revenue of $184.69 million during the quarter, compared to analysts' expectations of $229.64 million. The business's quarterly revenue was down 23.1% compared to the same quarter last year. On average, sell-side analysts predict that IREN will post -0.8 earnings per share for the current fiscal year.

Institutional Trading of IREN

Institutional investors and hedge funds have recently made changes to their positions in the stock. Marex Group plc lifted its position in shares of IREN by 14,216.7% during the 4th 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 4th quarter worth about $158,677,000. Clear Street Group Inc. acquired a new position in shares of IREN during the 4th quarter worth about $137,075,000. Situational Awareness LP lifted its position 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 worth $93,254,000 after purchasing an additional 3,034,254 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its position 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 worth $108,424,000 after purchasing an additional 2,614,835 shares during the last quarter. Institutional investors and hedge funds own 41.08% of the company's stock.

Key IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN signed a five‑year AI cloud services contract with NVIDIA valued at roughly $3.4 billion and a strategic partnership to deploy up to 5GW of NVIDIA‑aligned AI infrastructure (targeting ~150,000 GPUs). This is the primary driver of the stock rally because it converts IREN into a major supplier of capacity to one of the biggest customers in AI. GLobeNewswire: $3.4bn Contract
• Positive Sentiment: NVIDIA received a five‑year option to buy up to 30 million IREN shares at $70 per share (up to $2.1B), giving IREN a committed potential capital source and strategic validation from a marquee partner — both positives for funding rapid build‑out and for investor confidence. Invezz: NVIDIA Investment Option
• Positive Sentiment: IREN agreed to acquire Ingenostrum / Nostrum Group (Spain), adding ~490MW of secured grid‑connected power and establishing a European platform that increases the company’s total power portfolio toward 5GW — a strategic step to serve EU AI demand. Quiver: Nostrum Acquisition
• Positive Sentiment: Recent M&A and tech deals — including the reported Mirantis purchase (~$625M) and energizing capacity at Sweetwater — strengthen IREN’s software, bare‑metal GPU and operational stack, helping it deliver and manage large GPU deployments. SDxCentral: Mirantis Deal
• Neutral Sentiment: Q3 FY26 results showed revenue of $144.8M (well below analyst estimates) as the business transitions from bitcoin mining to AI cloud; management reiterated multi‑year ARR targets and said near‑term capex will be funded by cash (~$2.6B at Apr 30), operating cash flow and additional financing. Investors should weigh the short‑term revenue hit against the long‑term contract pipeline. GlobeNewswire: Business Update & Q3 Results
• Negative Sentiment: Execution, dilution and timing risks remain: large capacity builds require significant capex and permitting, acquisitions and NVIDIA’s equity option could dilute existing holders if exercised, and the company’s recent revenue miss highlights near‑term growth variability. These risks temper upside unless IREN delivers on build‑out milestones and customer ramps. Reuters: Deal & Risks

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.

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