IREN’s (IREN) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of IREN (NASDAQ:IREN) in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $70.00 price target on the stock.

Other analysts have also recently issued reports about the company. Macquarie Infrastructure lifted their price objective on IREN to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Zacks Research upgraded IREN from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 16th. UBS Group reaffirmed a “buy” rating on shares of IREN in a research note on Friday, November 7th. JMP Securities set a $80.00 price objective on IREN in a research report on Wednesday, November 19th. Finally, Compass Point restated a “buy” rating and set a $105.00 target price on shares of IREN in a report on Friday, November 7th. Thirteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, IREN currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.29.

IREN Stock Down 6.2%

Shares of IREN stock opened at $40.03 on Tuesday. The company has a current ratio of 4.96, a quick ratio of 4.96 and a debt-to-equity ratio of 1.51. IREN has a 12-month low of $5.13 and a 12-month high of $76.87. The company has a market cap of $11.35 billion, a P/E ratio of 30.10 and a beta of 4.27. The company’s fifty day simple moving average is $46.33 and its two-hundred day simple moving average is $43.10.

IREN (NASDAQ:IREN) last posted its earnings results on Thursday, February 5th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.37). IREN had a negative return on equity of 10.01% and a net margin of 56.59%.The company had revenue of $184.69 million during the quarter, compared to analysts’ expectations of $229.64 million. The firm’s revenue for the quarter was down 23.1% on a year-over-year basis. Research analysts anticipate that IREN will post 0.43 EPS for the current year.

Hedge Funds Weigh In On IREN

Several large investors have recently modified their holdings of the stock. Federation des caisses Desjardins du Quebec grew its position in IREN by 442.5% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 18,636 shares of the company’s stock valued at $704,000 after purchasing an additional 15,201 shares during the last quarter. Insigneo Advisory Services LLC raised its holdings in IREN by 29.0% in the fourth quarter. Insigneo Advisory Services LLC now owns 7,077 shares of the company’s stock worth $267,000 after buying an additional 1,593 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of IREN in the fourth quarter worth approximately $227,000. Triumph Capital Management purchased a new stake in shares of IREN during the fourth quarter valued at approximately $834,000. Finally, Commonwealth Equity Services LLC grew its holdings in shares of IREN by 39.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 115,553 shares of the company’s stock valued at $4,364,000 after buying an additional 32,610 shares during the last quarter. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Key Headlines Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN will be added to the MSCI USA Index after the close on Feb. 27 — inclusion typically increases demand from index funds and passive investors, supporting medium?term flows. Article Title
• Positive Sentiment: Major banks (reported syndicate members include Goldman Sachs and JPMorgan) are underwriting a multi?billion credit facility to fund GPU expansion tied to a large Microsoft contract — this reduces dilution risk and materially de?risks the company’s buildout financing. Article Title
• Positive Sentiment: Analysts and brokers are showing support: Canaccord Genuity reaffirmed a Buy on IREN, and Cantor Fitzgerald called the recent dip a buying opportunity amid the AI pivot — signals that institutional coverage remains constructive. Article Title Article Title
• Positive Sentiment: IREN is targeting $3.4B of AI cloud ARR by 2026 (backed by Microsoft deals, GPU financing and >4.5 GW secured power) — if achieved, this would materially re?rate IREN from a volatile miner to an AI infrastructure play. Article Title
• Neutral Sentiment: Reports flag a large increase in short interest for February, but the data shown is internally inconsistent (0 shares / NaN changes) — watch for clearer short?interest reads; mixed headlines can amplify intraday moves.
• Negative Sentiment: HC Wainwright reduced near?term EPS forecasts across multiple quarters and cut FY2026/FY2027 estimates sharply (while retaining a Buy/$80 target). Lower earnings expectations increase downside risk if execution slips or revenue ramps slower than modeled.

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.