IREN’s (IREN) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of IREN (NASDAQ:IREN) in a research note published on Friday morning, MarketBeat.com reports. They currently have a $99.00 price target on the stock.

A number of other equities research analysts also recently weighed in on the stock. Citigroup reissued a “market outperform” rating on shares of IREN in a report on Friday. B. Riley Financial lifted their price objective on shares of IREN from $88.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of IREN in a report on Friday. Compass Point reissued a “buy” rating on shares of IREN in a research note on Tuesday, July 21st. Finally, Canaccord Genuity Group restated a “buy” rating and set a $79.00 target price on shares of IREN in a report on Tuesday, July 21st. One investment 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. According to data from MarketBeat, IREN currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.57.

IREN Stock Performance

Shares of IREN stock opened at $35.45 on Friday. The stock has a 50-day simple moving average of $41.19 and a 200 day simple moving average of $45.52. IREN has a fifty-two week low of $25.31 and a fifty-two week high of $76.87. The stock has a market capitalization of $12.67 billion, a P/E ratio of -15.15 and a beta of 4.29. The company has a quick ratio of 3.55, a current ratio of 3.55 and a debt-to-equity ratio of 1.80.

Institutional Investors Weigh In On IREN

A number of institutional investors have recently modified their holdings of IREN. California State Teachers Retirement System grew its holdings in shares of IREN by 6,197.8% during 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 in the last quarter. Situational Awareness LP boosted its position in IREN by 34.5% during the first quarter. Situational Awareness LP now owns 11,698,835 shares of the company’s stock valued at $401,036,000 after purchasing an additional 2,998,214 shares during the last quarter. Marex Group plc boosted its position in IREN by 14,216.7% during the fourth quarter. Marex Group plc now owns 4,471,263 shares of the company’s stock valued at $168,880,000 after purchasing an additional 4,440,032 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in IREN in the fourth quarter valued at about $158,677,000. Finally, Clear Street Group Inc. purchased a new position in IREN in the fourth quarter valued at about $137,075,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

IREN News Summary

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.

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.