HC Wainwright Predicts IREN’s Q2 Earnings (NASDAQ:IREN)

IREN Limited (NASDAQ:IREN) – Research analysts at HC Wainwright reduced their Q2 2027 earnings per share (EPS) estimates for IREN in a report released on Friday, November 6th. HC Wainwright analyst M. Colonnese now forecasts that the company will post earnings per share of ($0.88) for the quarter, down from their prior estimate of ($0.54). HC Wainwright currently has a “Buy” rating and a $56.00 price target on the stock. The consensus estimate for IREN’s current full-year earnings is ($0.49) per share. HC Wainwright also issued estimates for IREN’s Q3 2027 earnings at $0.74 EPS and Q4 2027 earnings at ($0.67) EPS.

IREN (NASDAQ:IREN) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.06. IREN had a negative return on equity of 15.46% and a negative net margin of 99.38%. The company had revenue of $228.00 million during the quarter, compared to analyst estimates of $228.26 million.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lowered their price target on IREN from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday. BTIG Research restated a “buy” rating on shares of IREN in a research report on Friday. Canaccord Genuity Group restated a “buy” rating and issued a $79.00 price objective on shares of IREN in a research report on Friday, August 28th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $30.00 target price on shares of IREN in a research note on Friday. Finally, UBS Group reiterated an “overweight” rating on shares of IREN in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $64.57.

IREN Price Performance

IREN stock opened at $21.41 on Tuesday. The stock has a market cap of $8.44 billion, a price-to-earnings ratio of -5.25 and a beta of 4.33. The company has a quick ratio of 3.55, a current ratio of 3.55 and a debt-to-equity ratio of 1.80. The business has a 50-day simple moving average of $35.59 and a 200 day simple moving average of $43.44. IREN has a 52 week low of $17.16 and a 52 week high of $70.71.

Hedge Funds Weigh In On IREN

A number of large investors have recently bought and sold shares of the stock. Western Wealth Management LLC increased its stake in IREN by 23.0% in the 3rd quarter. Western Wealth Management LLC now owns 11,564 shares of the company’s stock worth $473,000 after purchasing an additional 2,162 shares during the period. Texas Capital Bank Wealth Management Services Inc bought a new stake in IREN in the third quarter valued at approximately $416,000. Phoenix Financial Ltd. boosted its stake in shares of IREN by 11.7% during the third quarter. Phoenix Financial Ltd. now owns 11,000 shares of the company’s stock valued at $451,000 after purchasing an additional 1,150 shares during the period. Eurizon Capital SGR S.p.A. boosted its stake in shares of IREN by 13.1% during 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 purchasing an additional 3,990 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of IREN during the third quarter valued at approximately $218,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN reported fiscal Q1 AI cloud revenue of about $200 million, nearly all of its $228 million in total revenue. One bullish analysis cited 182% quarter-over-quarter AI cloud growth and a 29% adjusted EBITDA margin as evidence that the business is scaling. IREN Could Be 70% Undervalued On Strong Q1 AI Cloud Revenue
• Positive Sentiment: The company plans to exit bitcoin mining by the end of 2026 and focus capital on AI data centers, aligning its business with demand for AI computing. JonesTrading upgraded the shares to Buy with a $40 target, though that target remains well below some earlier expectations. Why IREN Is Exiting Bitcoin Mining JonesTrading upgrade
• Neutral Sentiment: JPMorgan kept an Overweight rating but reduced its price target from $65 to $55. Cantor Fitzgerald also maintained Overweight while cutting its target sharply, from $99 to $47, reflecting a more cautious outlook despite potential upside from current levels. JPMorgan price target Cantor cuts IREN price target
• Negative Sentiment: IREN’s goal of more than $4 billion in annual recurring revenue has slipped to early 2027. Reports cite delayed customer deployments, including Microsoft-related capacity, alongside rising costs, ongoing losses, and a potential $6 billion funding gap. These issues raise doubts about how quickly the company can turn its large contracted backlog into revenue. IREN’s $4B Revenue Goal Delayed
• Negative Sentiment: Broader worries about lending to AI data-center developers add pressure to a capital-intensive expansion. The combination of deployment delays and financing needs is a key counterweight to IREN’s strong AI revenue growth. AI lending worries mount

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.