IREN (NASDAQ:IREN) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of IREN (NASDAQ:IREN) from an underweight rating to an overweight rating in a research report report published on Monday, Marketbeat Ratings reports. They currently have $65.00 target price on the stock, up from their prior target price of $46.00.

A number of other equities analysts have also issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of IREN in a report on Friday, August 28th. Morgan Stanley downgraded IREN to a “buy” rating in a research note on Wednesday, September 2nd. B. Riley Financial increased their price target on IREN from $88.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Needham & Company LLC reissued a “hold” rating on shares of IREN in a report on Tuesday, July 21st. Finally, Canaccord Genuity Group restated a “buy” rating and set a $79.00 price objective on shares of IREN in a research note on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.93.

IREN Price Performance

Shares of NASDAQ:IREN opened at $42.62 on Monday. The firm’s 50 day moving average is $40.31 and its two-hundred day moving average is $45.51. IREN has a 52 week low of $28.93 and a 52 week high of $76.87. The firm has a market capitalization of $16.79 billion, a P/E ratio of -18.21 and a beta of 4.28. The company has a current ratio of 3.55, a quick ratio of 3.55 and a debt-to-equity ratio of 1.80.

Institutional Trading of IREN

Large investors have recently added to or reduced their stakes in the business. SkyView Investment Advisors LLC acquired a new position in IREN in the second quarter worth approximately $823,000. Sequoia Financial Advisors LLC acquired a new stake in shares of IREN during the 2nd quarter valued at $263,000. MCF Advisors LLC lifted its position in shares of IREN by 5,159.1% during the 2nd quarter. MCF Advisors LLC now owns 1,157 shares of the company’s stock valued at $53,000 after acquiring an additional 1,135 shares during the last quarter. National Pension Service bought a new stake in shares of IREN during the 2nd quarter worth $1,213,000. Finally, NorthRock Partners LLC bought a new stake in shares of IREN during the 2nd quarter worth $251,000. 41.08% of the stock is currently owned by institutional investors.

Key Stories Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: JPMorgan double-upgraded IREN and set a $65 price target, citing the company’s Nvidia partnership, rising contract value and momentum in AI cloud services. The target implies substantial potential upside from recent trading levels. JPMorgan double upgrades IREN, sets $65 target with 48% upside
• Positive Sentiment: AI Cloud Services revenue surged to $128.8 million in fiscal 2026 from $16.4 million a year earlier. Contracted demand is also supporting a higher expected 2026 annual recurring revenue outlook of approximately $4.0 billion versus $3.4 billion previously reported. IREN Draws a Two-Notch Upgrade on Neocloud Pricing
• Positive Sentiment: IREN rebounded alongside other high-growth “neocloud” companies in premarket trading, suggesting some recovery in investor appetite for AI infrastructure stocks after the sector’s recent selloff. Why Are CoreWeave, NBIS, and IREN Rising in Premarket Trading
• Neutral Sentiment: The stock remains highly volatile, with a beta of 4.28, and trades below its 200-day moving average, indicating that the rebound has not yet fully reversed the broader technical weakness.
• Negative Sentiment: Fiscal 2026 included a $702.6 million net loss and $638.8 million in largely non-cash impairment charges tied to retiring bitcoin-mining equipment as IREN converts capacity to AI hosting. Heavy capital spending, execution risk and a premium valuation remain key investor concerns. IREN Rebounds After Earnings Dip: Time to Buy or Hold the Stock?
• Negative Sentiment: Weakness across AI hosting and bitcoin-mining stocks recently pressured IREN, while the planned exit from bitcoin mining creates transition and near-term earnings risks.

About IREN

IREN Limited, formerly known as Iris Energy Limited, is a data center infrastructure company focused on high-performance computing. The company develops and operates data centers powered by renewable energy and uses this infrastructure primarily for Bitcoin mining and, increasingly, artificial intelligence and other GPU-intensive cloud-computing applications.

IREN designs, builds and operates its own data centers, providing access to electrical power, computing hardware and related infrastructure.