HC Wainwright Estimates IREN’s Q3 Earnings (NASDAQ:IREN)

IREN Limited (NASDAQ:IREN) – Research analysts at HC Wainwright dropped their Q3 2026 earnings per share (EPS) estimates for IREN in a report issued on Monday, February 9th. HC Wainwright analyst M. Colonnese now anticipates that the company will post earnings per share of ($0.30) for the quarter, down from their previous forecast of ($0.18). HC Wainwright currently has a “Buy” rating and a $80.00 target price on the stock. The consensus estimate for IREN’s current full-year earnings is $0.43 per share. HC Wainwright also issued estimates for IREN’s Q4 2026 earnings at ($0.23) EPS, FY2026 earnings at ($1.12) EPS, Q1 2027 earnings at ($0.14) EPS, Q2 2027 earnings at ($0.11) EPS, Q3 2027 earnings at ($0.14) EPS, Q4 2027 earnings at ($0.13) EPS and FY2027 earnings at ($0.51) EPS.

IREN (NASDAQ:IREN) last posted its earnings results on Thursday, February 5th. The company reported ($0.44) earnings per share (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 firm had revenue of $184.69 million for the quarter, compared to analyst estimates of $229.64 million. IREN’s revenue for the quarter was down 23.1% on a year-over-year basis.

Other research analysts have also issued research reports about the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $70.00 price objective on shares of IREN in a research note on Tuesday. Roth Mkm set a $94.00 price target on shares of IREN and gave the company a “buy” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. upped their price objective on IREN from $28.00 to $39.00 and gave the stock an “underweight” rating in a research report on Monday, November 24th. Compass Point reiterated a “buy” rating and issued a $105.00 price objective on shares of IREN in a research note on Friday, November 7th. Finally, Macquarie Infrastructure lifted their target price on IREN to $86.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Thirteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.29.

IREN Stock Performance

NASDAQ IREN opened at $42.93 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.96 and a quick ratio of 4.96. The company has a market cap of $12.17 billion, a P/E ratio of 32.28 and a beta of 4.27. The stock has a 50-day moving average of $46.48 and a two-hundred day moving average of $43.13. IREN has a 1-year low of $5.13 and a 1-year high of $76.87.

Institutional Trading of IREN

Institutional investors have recently bought and sold shares of the business. Situational Awareness LP increased its holdings in shares of IREN by 90.1% in the 2nd quarter. Situational Awareness LP now owns 6,400,384 shares of the company’s stock valued at $93,254,000 after acquiring an additional 3,034,254 shares during the last quarter. Hood River Capital Management LLC purchased a new position in IREN in the second quarter valued at approximately $74,228,000. BNP Paribas Financial Markets acquired a new stake in IREN during the fourth quarter worth approximately $158,677,000. Value Aligned Research Advisors LLC boosted its holdings in shares of IREN by 18.6% in the 3rd quarter. Value Aligned Research Advisors LLC now owns 3,873,337 shares of the company’s stock valued at $181,776,000 after buying an additional 607,189 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of IREN by 45.9% during the second quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock worth $43,341,000 after purchasing an additional 936,333 shares in the last quarter. 41.08% of the stock is owned by hedge funds and other institutional investors.

IREN News Summary

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN’s strategic shift into AI infrastructure and a reported Microsoft contract materially reshape its growth story and reduce perceived long-term risk from legacy lines — a potential bullish catalyst for valuation and investor interest. IREN Pivot To AI Infrastructure With Microsoft Contract Reshapes Risk Profile
• Positive Sentiment: Canaccord Genuity reaffirmed a “buy” rating and a $70 price target, signaling analyst conviction that IREN can capture AI-related upside (price target implies significant upside from current levels). Read More
• Positive Sentiment: Short interest fell sharply in January (down ~20% to ~40.9M shares, ~15.2% of float, short-interest ratio ~0.8 days), indicating heavy short covering — this reduces immediate downward pressure and can support short-term rallies if momentum resumes.
• Positive Sentiment: Sector-level bullish research (Zacks pieces on AI infrastructure capex and market breadth, and a 247WallStreet feature) support a favorable macro backdrop for IREN as an AI-infrastructure play, which could lift sentiment and multiple expansion. CAPEX & Cash Flow: The Bull Case for AI Infrastructure Stocks
• Neutral Sentiment: Zacks and other analyst commentary highlight strong AI cloud momentum but warn of rising competition and premium valuation, leading some to recommend a cautious “hold” rather than an outright buy. Should You Buy, Sell or Hold IREN Stock Post Q2 Earnings?
• Negative Sentiment: Macquarie trimmed its price target to $70 while keeping an Outperform rating — a sign of moderated upside expectations that can cap near-term gains. Macquarie Lowers Iren PT to $70
• Negative Sentiment: Fundamental headwinds remain: the company reported a Q2 EPS miss and a notable revenue decline year-over-year, which continues to weigh on near-term profitability and investor confidence (key reason for today’s negative price action).

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.