IREN (NASDAQ:IREN) Price Target Raised to $80.00 at BTIG Research

IREN (NASDAQ:IREN) had its price objective increased by equities researchers at BTIG Research to $80.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 40.72% from the stock’s previous close.

Several other equities analysts have also recently commented on IREN. Weiss Ratings cut IREN from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 22nd. Wall Street Zen lowered IREN from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $70.00 price objective on shares of IREN in a research note on Tuesday, February 10th. HC Wainwright upped their price objective on IREN to $85.00 and gave the company a “buy” rating in a research note on Friday. Finally, Freedom Capital upgraded IREN to a “hold” rating in a research report on Wednesday, April 1st. Thirteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.85.

IREN Price Performance

NASDAQ IREN opened at $56.85 on Friday. IREN has a twelve month low of $6.76 and a twelve month high of $76.87. The company has a debt-to-equity ratio of 1.51, a quick ratio of 4.96 and a current ratio of 4.96. The stock has a market capitalization of $18.89 billion, a PE ratio of 42.74 and a beta of 4.17. The stock has a 50-day simple moving average of $42.59 and a 200 day simple moving average of $46.71.

IREN (NASDAQ:IREN) last posted its quarterly earnings data on Thursday, February 5th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.37). The business had revenue of $184.69 million for the quarter, compared to analyst estimates of $229.64 million. IREN had a negative return on equity of 10.01% and a net margin of 56.59%.IREN’s revenue was down 23.1% on a year-over-year basis. Research analysts anticipate that IREN will post -0.8 EPS for the current year.

Institutional Trading of IREN

Hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new stake in IREN during the 3rd quarter worth $25,000. Miller Wealth Advisors LLC raised its stake in IREN by 240.0% during the 4th quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock worth $26,000 after buying an additional 480 shares during the period. North Star Investment Management Corp. acquired a new stake in IREN during the 4th quarter worth $26,000. Clearstead Trust LLC acquired a new stake in IREN during the 4th quarter worth $27,000. Finally, Aventura Private Wealth LLC acquired a new stake in IREN during the 4th quarter worth $28,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

More IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN signed a five‑year AI cloud services contract with NVIDIA valued at roughly $3.4 billion and a strategic partnership to deploy up to 5GW of NVIDIA‑aligned AI infrastructure (targeting ~150,000 GPUs). This is the primary driver of the stock rally because it converts IREN into a major supplier of capacity to one of the biggest customers in AI. GLobeNewswire: $3.4bn Contract
• Positive Sentiment: NVIDIA received a five‑year option to buy up to 30 million IREN shares at $70 per share (up to $2.1B), giving IREN a committed potential capital source and strategic validation from a marquee partner — both positives for funding rapid build‑out and for investor confidence. Invezz: NVIDIA Investment Option
• Positive Sentiment: IREN agreed to acquire Ingenostrum / Nostrum Group (Spain), adding ~490MW of secured grid‑connected power and establishing a European platform that increases the company’s total power portfolio toward 5GW — a strategic step to serve EU AI demand. Quiver: Nostrum Acquisition
• Positive Sentiment: Recent M&A and tech deals — including the reported Mirantis purchase (~$625M) and energizing capacity at Sweetwater — strengthen IREN’s software, bare‑metal GPU and operational stack, helping it deliver and manage large GPU deployments. SDxCentral: Mirantis Deal
• Neutral Sentiment: Q3 FY26 results showed revenue of $144.8M (well below analyst estimates) as the business transitions from bitcoin mining to AI cloud; management reiterated multi‑year ARR targets and said near‑term capex will be funded by cash (~$2.6B at Apr 30), operating cash flow and additional financing. Investors should weigh the short‑term revenue hit against the long‑term contract pipeline. GlobeNewswire: Business Update & Q3 Results
• Negative Sentiment: Execution, dilution and timing risks remain: large capacity builds require significant capex and permitting, acquisitions and NVIDIA’s equity option could dilute existing holders if exercised, and the company’s recent revenue miss highlights near‑term growth variability. These risks temper upside unless IREN delivers on build‑out milestones and customer ramps. Reuters: Deal & Risks

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.