IREN (NASDAQ:IREN) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

IREN (NASDAQ:IREN) had its target price reduced by equities research analysts at JPMorgan Chase & Co. from $65.00 to $55.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 156.16% from the stock’s previous close.

Several other research firms have also recently commented on IREN. BTIG Research reissued a “buy” rating on shares of IREN in a research note on Friday. Citigroup restated a “market outperform” rating on shares of IREN in a research report on Friday, August 28th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $79.00 price objective on shares of IREN in a report on Friday, August 28th. Morgan Stanley lowered IREN to a “buy” rating in a research report on Wednesday, September 2nd. Finally, JonesTrading raised IREN from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $64.57.

IREN Price Performance

NASDAQ IREN traded down $0.17 on Monday, hitting $21.47. 69,649,065 shares of the company were exchanged, compared to its average volume of 44,692,367. The firm has a 50 day moving average of $35.87 and a two-hundred day moving average of $43.60. The company has a market cap of $8.46 billion, a P/E ratio of -5.29 and a beta of 4.33. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.77. IREN has a 1-year low of $17.16 and a 1-year high of $70.71.

IREN (NASDAQ:IREN) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.06. The firm had revenue of $228.00 million for the quarter, compared to analyst estimates of $228.26 million. IREN had a negative net margin of 194.36% and a negative return on equity of 16.36%. On average, equities analysts predict that IREN will post -0.49 EPS for the current year.

Institutional Investors Weigh In On IREN

Several institutional investors have recently modified their holdings of IREN. Phoenix Financial Ltd. lifted its holdings in IREN by 11.7% in the third quarter. Phoenix Financial Ltd. now owns 11,000 shares of the company’s stock valued at $451,000 after buying an additional 1,150 shares during the period. Eurizon Capital SGR S.p.A. boosted its stake in IREN by 13.1% in the third quarter. Eurizon Capital SGR S.p.A. now owns 34,405 shares of the company’s stock valued at $1,406,000 after acquiring an additional 3,990 shares during the last quarter. R Squared Ltd acquired a new stake in IREN during the 3rd quarter worth $218,000. Nan Fung Trinity HK Ltd. acquired a new stake in IREN during the 3rd quarter worth $12,058,000. Finally, Jacobi Capital Management LLC acquired a new stake in IREN during the 3rd quarter worth $100,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

Trending Headlines about IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN reported fiscal Q1 AI-cloud revenue of $200 million, or most of its $228 million in total sales, and the business has a higher-margin profile. One analysis argued the shares could be substantially undervalued based on this growth. IREN could be undervalued on strong AI cloud revenue
• Positive Sentiment: JonesTrading upgraded IREN from Hold to Buy, setting a $40 price target. A Seeking Alpha contributor also upgraded the stock, citing IREN’s AI pivot. JonesTrading rating IREN’s AI pivot ends a sell rating
• Neutral Sentiment: IREN’s reported $20.3 billion backlog offers substantial contracted demand, but delivery timing and the investment needed to convert it into revenue remain key uncertainties. IREN’s $4 billion revenue goal delayed
• Negative Sentiment: IREN’s target of more than $4 billion in annual recurring revenue has shifted to early 2027. A delay to Microsoft-related deployments pushed more than $4 billion of contracted ARR into that period, prompting Cantor Fitzgerald to cut its price target to $47 from $99 and lower estimates. Cantor cuts IREN price target Microsoft deployment delay report
• Negative Sentiment: Rising costs and losses, a reported $6 billion funding gap, and broader worries about lending to AI data-center developers are adding pressure. HC Wainwright also reduced its price target, while concern about the delayed growth target has contributed to recent volatility. IREN’s revenue goal delay and funding concerns HC Wainwright price target reduction

IREN Company Profile

IREN Limited, formerly known as Iris Energy, develops and operates data centers for bitcoin mining and artificial intelligence cloud services. Its AI business provides access to high-performance computing infrastructure, including GPU-based services, for customers with demanding computing needs.

Founded in Australia in 2018 by brothers Daniel and Will Roberts, the company has expanded its data-center operations into North America, including locations in British Columbia, Canada, and Texas.