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

Canaccord Genuity Group reaffirmed their buy rating on shares of IREN (NASDAQ:IREN) in a research note published on Friday morning,Benzinga reports. They currently have a $79.00 price objective on the stock.

A number of other equities analysts also recently weighed in on IREN. Sanford C. Bernstein reissued an “outperform” rating and issued a $100.00 price target on shares of IREN in a report on Thursday, August 13th. Citigroup restated a “market outperform” rating on shares of IREN in a report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $99.00 price objective on shares of IREN in a research report on Friday. Freedom Capital upgraded shares of IREN from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Finally, BTIG Research reissued a “buy” rating and set a $80.00 target price on shares of IREN in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, IREN currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.57.

IREN Price Performance

Shares of NASDAQ:IREN opened at $35.45 on Friday. IREN has a 1 year low of $25.31 and a 1 year high of $76.87. The company has a market capitalization of $12.67 billion, a PE ratio of -15.15 and a beta of 4.29. The business has a fifty day moving average price of $41.19 and a two-hundred day moving average price of $45.52. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.55 and a quick ratio of 3.55.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Corient Private Wealth LP bought a new position in shares of IREN during the 2nd quarter worth $415,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in IREN in the 2nd quarter valued at about $2,989,000. California State Teachers Retirement System raised its stake in IREN by 6,197.8% in the 2nd quarter. California State Teachers Retirement System now owns 22,963,091 shares of the company’s stock valued at $1,050,102,000 after acquiring an additional 22,598,469 shares during the period. Ameritas Advisory Services LLC lifted its holdings in IREN by 185.9% during the second quarter. Ameritas Advisory Services LLC now owns 35,304 shares of the company’s stock valued at $1,614,000 after purchasing an additional 22,954 shares during the last quarter. Finally, HB Wealth Management LLC purchased a new stake in IREN during the second quarter valued at about $327,000. Institutional investors own 41.08% of the company’s stock.

More IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: AI demand and contracted revenue are accelerating. IREN reported approximately $1 billion in current operating annualized recurring revenue and more than $4 billion of contracted ARR tied to its 2026 capacity. AI Cloud revenue reached about $128.8 million for the year, while management said much of its FY26 capacity is sold out and expects ARR to exceed $4 billion by December. IREN Just Locked in $4 Billion in ARR
• Positive Sentiment: New financing supports the GPU buildout. Funds managed by Blue Owl arranged $2.4 billion of secured financing—split between a $1.2 billion term loan and $1.2 billion of notes—to help IREN purchase NVIDIA Blackwell Ultra systems for its Mackenzie, British Columbia, campus. IREN separately disclosed roughly $2.8 billion of GPU financings covering about 90% of associated GPU capital expenditures, reducing near-term equity funding needs. Blue Owl Managed Funds Lead Financing for IREN
• Positive Sentiment: Several analysts remained bullish after the report: Canaccord reaffirmed its Buy rating with a $79 target, while BTIG and Cantor Fitzgerald maintained Buy and Overweight ratings with $80 and $99 targets, respectively.
• Neutral Sentiment: The earnings picture was mixed. Quarterly revenue was approximately $137.2 million and the reported loss was $0.41 per share, better than some consensus estimates, although other estimates cited an adjusted loss of $0.74 and revenue below a $142.3 million forecast. IREN Earnings Report
• Negative Sentiment: A $684 million quarterly loss and major impairment overshadowed the AI progress. The charge, largely related to decommissioning Bitcoin-mining equipment, highlighted the financial pain of IREN’s pivot and pushed investors to reassess its near-term profitability.
• Negative Sentiment: Management indicated that sustained profitability may not arrive until 2029–2030, while planned FY27 capital spending of $25–$30 billion raises execution, funding, dilution and leverage concerns. The stock also broke below key moving averages, adding technical pressure.

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.