IREN (NASDAQ:IREN) Given “Buy” Rating at Canaccord Genuity Group

IREN (NASDAQ:IREN)‘s stock had its “buy” rating reissued by research analysts at Canaccord Genuity Group in a report released on Tuesday,Benzinga reports. They presently have a $79.00 price objective on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 96.52% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Freedom Capital raised shares of IREN from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. The Goldman Sachs Group reissued a “neutral” rating on shares of IREN in a research report on Monday. Weiss Ratings downgraded shares of IREN from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 7th. B. Riley Financial upped their price target on shares of IREN from $88.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Jefferies Financial Group began coverage on shares of IREN in a research report on Thursday, June 18th. They set a “buy” rating and a $79.00 price target for the company. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.36.

IREN Price Performance

IREN stock opened at $40.20 on Tuesday. The stock has a market capitalization of $14.37 billion, a price-to-earnings ratio of 83.75 and a beta of 4.27. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.44. IREN has a 52-week low of $14.72 and a 52-week high of $76.87. The stock’s fifty day simple moving average is $51.94 and its 200-day simple moving average is $47.64.

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

Institutional Investors Weigh In On IREN

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in shares of IREN by 45.9% in the 2nd quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock valued at $43,341,000 after purchasing an additional 936,333 shares in the last quarter. StoneX Group Inc. acquired a new stake in IREN during the 2nd quarter worth approximately $158,000. NewEdge Advisors LLC raised its holdings 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 buying an additional 30,736 shares during the period. Sei Investments Co. purchased a new position in IREN in the second quarter valued at approximately $2,333,000. Finally, Peapack Gladstone Financial Corp lifted its position in IREN by 30.0% during the second quarter. Peapack Gladstone Financial Corp now owns 18,200 shares of the company’s stock valued at $265,000 after buying an additional 4,200 shares in the last quarter. 41.08% of the stock is currently owned by institutional investors and hedge funds.

IREN News Summary

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN secured $2.8 billion in new AI cloud contracts, including business tied to major names like Microsoft and NVIDIA, boosting confidence in future growth. Article: IREN Signs $2.8bn in New Customer Contracts with Leading AI Developers, Raises 2026 ARR Target to over $4bn
• Positive Sentiment: The company raised its AI cloud revenue target to above $4 billion, signaling stronger demand and a bigger business mix shift toward infrastructure. Article: IREN Lifts Revenue Target on $2.8 Billion Contract Haul
• Positive Sentiment: Customer prepayments and longer-term contracts may ease capex concerns and improve cash flow visibility as IREN scales its AI cloud capacity. Article: IREN stock tests major resistance as new contracts alleviate capex concerns
• Neutral Sentiment: Several market commentaries highlighted IREN as a top Bitcoin or mining stock to watch, but these were mostly screening and watchlist pieces rather than new company-specific catalysts. Article: Top Bitcoin Stocks Worth Watching – July 20th
• Negative Sentiment: Investors still face execution risk as IREN must deliver on its large AI buildout, including potential delays from power and interconnection constraints. Article: Iren founders see $1bn wiped from wealth after controversial share package

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.