IREN (NASDAQ:IREN) Releases Quarterly Earnings Results, Misses Expectations By $1.61 EPS

IREN (NASDAQ:IREN) announced its quarterly earnings data on Thursday. The company reported ($2.16) EPS for the quarter, missing the consensus estimate of ($0.55) by ($1.61), FiscalAI reports. The firm had revenue of $137.22 million for the quarter, compared to the consensus estimate of $132.29 million. IREN had a net margin of 20.90% and a negative return on equity of 13.13%.

IREN Price Performance

Shares of IREN traded up $0.95 during mid-day trading on Thursday, hitting $40.53. 40,185,763 shares of the stock were exchanged, compared to its average volume of 42,818,500. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72. The company has a market cap of $14.48 billion, a PE ratio of 84.44 and a beta of 4.29. IREN has a 52-week low of $22.63 and a 52-week high of $76.87. The firm has a 50-day moving average of $42.07 and a two-hundred day moving average of $45.60.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on IREN shares. BTIG Research increased their price target on IREN to $80.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Jefferies Financial Group began coverage on IREN in a research note on Thursday, June 18th. They issued a “buy” rating and a $79.00 price objective for the company. JPMorgan Chase & Co. increased their target price on IREN from $39.00 to $46.00 and gave the stock an “underweight” rating in a research report on Monday, May 11th. B. Riley Financial lifted their target price on IREN from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, Cantor Fitzgerald upped their price target on IREN from $77.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Institutional Investors Weigh In On IREN

A number of hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC grew its position in shares of IREN by 26.7% during the 3rd quarter. Larson Financial Group LLC now owns 1,590 shares of the company’s stock worth $75,000 after buying an additional 335 shares in the last quarter. Vise Technologies Inc. raised its holdings in shares of IREN by 7.9% in the fourth quarter. Vise Technologies Inc. now owns 5,780 shares of the company’s stock valued at $218,000 after acquiring an additional 424 shares in the last quarter. Arax Advisory Partners lifted its stake in IREN by 306.2% in the fourth quarter. Arax Advisory Partners now owns 979 shares of the company’s stock worth $37,000 after acquiring an additional 738 shares during the period. CIBC Private Wealth Group LLC lifted its stake in IREN by 113.3% in the third quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the company’s stock worth $75,000 after acquiring an additional 850 shares during the period. Finally, Captrust Financial Advisors grew its holdings in IREN by 18.2% during the 4th quarter. Captrust Financial Advisors now owns 7,380 shares of the company’s stock worth $279,000 after acquiring an additional 1,138 shares in the last quarter. Hedge funds and other institutional investors own 41.08% of the company’s stock.

Key Headlines Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Strong results and guidance from Nvidia helped lift neocloud shares, including IREN, by reinforcing investor confidence in demand for AI infrastructure. IREN stock jumps ahead of earnings as neoclouds cheer Nvidia’s results
• Positive Sentiment: IREN reportedly handed Microsoft its first live AI workload, a milestone that supports the company’s transition from Bitcoin mining toward AI cloud services. Investors will focus on whether this relationship can expand into recurring, material revenue. IREN Hands Microsoft Its First Live AI Workload
• Positive Sentiment: Analyst estimates include an $83 consensus price target, substantially above recent trading levels, reflecting longer-term enthusiasm about IREN’s AI buildout and revenue potential. IREN Limited Receives $83 Consensus Price Target
• Neutral Sentiment: Key earnings issues include progress toward the company’s roughly $4 billion revenue target, AI cloud capacity and customer commitments, funding needs, and management’s outlook for growth. IREN Reports Q4 Earnings Today
• Negative Sentiment: J.P. Morgan maintained its Sell rating, while bearish coverage highlights IREN’s premium valuation, execution risk, and the possibility that AI expansion will take time to generate durable profits. J.P. Morgan Keeps Its Sell Rating on IREN
• Negative Sentiment: Falling Bitcoin-mining revenue, potential impairments, and a prior earnings miss are adding downside risk before the results. Traders also reduced exposure to IREN and other AI-hosting companies ahead of the announcement. IREN to Report Q4 Earnings

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.