IREN Limited (NASDAQ:IREN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

IREN Limited (NASDAQ:IREN) has received a consensus rating of “Moderate Buy” from the twenty ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, fourteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $82.3571.

A number of analysts recently commented on the stock. BTIG Research boosted their price objective on shares of IREN to $80.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Freedom Capital upgraded shares of IREN from a “hold” rating to a “strong-buy” rating in a research report on Monday. Cantor Fitzgerald boosted their price target on IREN from $77.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. B. Riley Financial increased their price objective on shares of IREN from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, Jefferies Financial Group started coverage on IREN in a report on Thursday, June 18th. They set a “buy” rating and a $79.00 target price on the stock.

IREN Stock Performance

NASDAQ IREN opened at $41.72 on Friday. The business’s 50 day moving average is $54.18 and its two-hundred day moving average is $47.78. The stock has a market capitalization of $14.91 billion, a price-to-earnings ratio of 86.92 and a beta of 4.27. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.44. IREN has a 12-month low of $14.72 and a 12-month high of $76.87.

IREN (NASDAQ:IREN) last released its earnings results on Friday, May 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). The business had revenue of $144.79 million during the quarter, compared to analyst estimates of $219.69 million. IREN had a net margin of 20.90% and a negative return on equity of 13.13%. Research analysts expect that IREN will post -1.25 EPS for the current year.

Trending Headlines about IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Investor enthusiasm remains supported by IREN’s AI data center pivot, including growing attention around its cloud expansion, large compute contracts, and recent Russell 1000 index inclusion, which can increase institutional interest. IREN (IREN) Stock Looks Fully Valued On Its Very Large 3 Year Run
• Positive Sentiment: The company added experienced AI cloud and data center executives, with new C-suite hires aimed at improving product execution and development for its expanding infrastructure business. IREN (IREN) Adds C Suite Leaders, Is The Valuation Upside Already Priced In?
• Positive Sentiment: Commentary from Jim Cramer and broader market discussion around “neocloud” names helped reinforce the bullish AI infrastructure narrative for IREN. Jim Cramer on IREN: “It’s Growing Like a Weed”
• Positive Sentiment: Some analysts have turned more constructive after the recent pullback, arguing the share-price decline created better upside potential and citing IREN’s long-term AI buildout. Why IREN (IREN) Stock Is Up Today
• Neutral Sentiment: The company continues to draw attention from both bullish and skeptical investors, with some articles arguing the market is mispricing revenue trends while others say the stock’s long rally has pushed valuation to expensive levels. IREN’s Revenue Is Falling For The Right Reason But Market Is Pricing It As Failure
• Negative Sentiment: Shares have also faced pressure after a governance headline, as the chair defended a large stock-award package for co-founders, renewing investor concerns about dilution and compensation. IREN Stock Drops as Chair Defends Stock Award to Co-Founders
• Negative Sentiment: Despite the AI growth story, several recent pieces argue the stock may already be fully valued after a very large multi-year run, which could limit near-term upside. IREN (IREN) Stock Looks Fully Valued On Its Very Large 3 Year Run

Institutional Investors Weigh In On IREN

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. increased its stake in shares of IREN by 45.9% during the 2nd quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock valued at $43,341,000 after acquiring an additional 936,333 shares during the last quarter. StoneX Group Inc. purchased a new stake in shares of IREN in the second quarter worth about $158,000. NewEdge Advisors LLC grew its position in IREN by 245.0% in the second quarter. NewEdge Advisors LLC now owns 43,281 shares of the company’s stock valued at $631,000 after acquiring an additional 30,736 shares in the last quarter. Sei Investments Co. acquired a new stake in IREN during the 2nd quarter valued at $2,333,000. Finally, Peapack Gladstone Financial Corp increased its position in shares of IREN by 30.0% during the second quarter. Peapack Gladstone Financial Corp now owns 18,200 shares of the company’s stock worth $265,000 after acquiring an additional 4,200 shares during the last quarter. 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, owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.