FY2026 Earnings Forecast for IREN Issued By HC Wainwright

IREN Limited (NASDAQ:IREN) – Investment analysts at HC Wainwright dropped their FY2026 earnings estimates for shares of IREN in a research note issued to investors on Wednesday, July 22nd. HC Wainwright analyst M. Colonnese now anticipates that the company will post earnings per share of ($1.54) for the year, down from their previous forecast of ($1.22). HC Wainwright currently has a “Buy” rating and a $90.00 price target on the stock. The consensus estimate for IREN’s current full-year earnings is ($1.85) per share. HC Wainwright also issued estimates for IREN’s Q4 2026 earnings at ($0.60) EPS, Q1 2027 earnings at ($0.64) EPS, Q2 2027 earnings at ($0.63) EPS, Q3 2027 earnings at ($0.37) EPS, Q4 2027 earnings at ($0.16) EPS and FY2027 earnings at ($1.79) EPS.

IREN (NASDAQ:IREN) last released its earnings results on Friday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). IREN had a negative return on equity of 13.13% and a net margin of 20.90%.The company had revenue of $144.79 million for the quarter, compared to analysts’ expectations of $219.69 million.

A number of other equities research analysts have also weighed in on the stock. Cantor Fitzgerald boosted their price objective on shares of IREN from $77.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. The Goldman Sachs Group restated a “neutral” rating on shares of IREN in a research note on Monday. Compass Point reaffirmed a “buy” rating on shares of IREN in a research report on Tuesday. Canaccord Genuity Group reiterated a “buy” rating and set a $79.00 price target on shares of IREN in a research note on Tuesday. Finally, Jefferies Financial Group began coverage on IREN in a report on Thursday, June 18th. They issued a “buy” rating and a $79.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.71.

IREN Trading Down 1.7%

NASDAQ IREN opened at $40.58 on Friday. The company has a fifty day simple moving average of $51.00 and a two-hundred day simple moving average of $47.67. The stock has a market cap of $14.50 billion, a P/E ratio of 84.54 and a beta of 4.27. IREN has a 12-month low of $14.72 and a 12-month high of $76.87. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.44.

Institutional Investors Weigh In On IREN

Several hedge funds have recently added to or reduced their stakes in IREN. Situational Awareness LP raised its stake in shares of IREN by 34.5% during the 1st quarter. Situational Awareness LP now owns 11,698,835 shares of the company’s stock valued at $401,036,000 after buying an additional 2,998,214 shares during the last quarter. Marex Group plc boosted its stake in shares of IREN by 14,216.7% in the fourth quarter. Marex Group plc now owns 4,471,263 shares of the company’s stock worth $168,880,000 after buying an additional 4,440,032 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of IREN in the fourth quarter worth about $158,677,000. Clear Street Group Inc. purchased a new stake in shares of IREN in the fourth quarter worth about $137,075,000. Finally, Value Aligned Research Advisors LLC grew its holdings in IREN by 10.9% during the third quarter. Value Aligned Research Advisors LLC now owns 3,621,974 shares of the company’s stock worth $169,979,000 after acquiring an additional 355,826 shares during the period. 41.08% of the stock is owned by hedge funds and other institutional investors.

More IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: HC Wainwright kept a Buy rating and $90 price target on IREN, signaling continued confidence in the stock’s upside despite the latest estimate revisions.
• Positive Sentiment: Recent coverage continues to highlight IREN’s $2.8 billion in new AI cloud contracts and a raised 2026 AI Cloud ARR target above $4 billion, reinforcing the company’s shift from bitcoin mining toward AI infrastructure.
• Neutral Sentiment: Multiple analyst notes this week focused on IREN’s longer-term earnings profile, with HC Wainwright adjusting several future-quarter EPS estimates, suggesting investors are still refining expectations around the company’s rapid growth and heavy investment cycle.
• Negative Sentiment: HC Wainwright lowered FY2026, Q1 2027, Q3 2027, Q4 2027, and FY2027 earnings estimates, which can pressure sentiment by indicating that near-term profitability may be weaker than previously expected.
• Negative Sentiment: The stock has also been volatile after a sharp run-up on AI deal news, so some of today’s weakness may reflect profit-taking as investors reassess valuation after the recent rally.

About IREN

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.