IREN (NASDAQ:IREN) Receives Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of IREN (NASDAQ:IREN) in a research note issued to investors on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a $70.00 price target on the stock.

Other equities analysts have also recently issued research reports about the company. Citigroup assumed coverage on IREN in a report on Wednesday, November 19th. They set an “outperform” rating on the stock. UBS Group reaffirmed a “buy” rating on shares of IREN in a research note on Friday, November 7th. JPMorgan Chase & Co. upped their price target on shares of IREN from $28.00 to $39.00 and gave the company an “underweight” rating in a report on Monday, November 24th. B. Riley Financial reissued a “buy” rating on shares of IREN in a research report on Friday. Finally, Cantor Fitzgerald cut their price objective on shares of IREN to $82.00 and set an “overweight” rating on the stock in a research report on Friday. Thirteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $72.29.

IREN Price Performance

Shares of IREN stock opened at $42.93 on Tuesday. The company has a quick ratio of 4.96, a current ratio of 4.96 and a debt-to-equity ratio of 1.51. IREN has a 12-month low of $5.13 and a 12-month high of $76.87. The firm has a fifty day moving average of $46.48 and a 200-day moving average of $43.13. The firm has a market capitalization of $12.17 billion, a price-to-earnings ratio of 32.28 and a beta of 4.27.

IREN (NASDAQ:IREN) last issued its quarterly earnings data on Thursday, February 5th. The company reported ($0.44) 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 business had revenue of $184.69 million for the quarter, compared to analyst estimates of $229.64 million. The firm’s revenue was down 23.1% on a year-over-year basis. On average, equities research analysts forecast that IREN will post 0.43 earnings per share for the current year.

Institutional Investors Weigh In On IREN

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IREN. Centaurus Financial Inc. lifted its position in IREN by 1.1% during the 3rd quarter. Centaurus Financial Inc. now owns 31,482 shares of the company’s stock worth $1,477,000 after buying an additional 332 shares in the last quarter. Larson Financial Group LLC increased its position in shares of IREN by 26.7% in the third quarter. Larson Financial Group LLC now owns 1,590 shares of the company’s stock valued at $75,000 after acquiring an additional 335 shares during the last quarter. Miller Wealth Advisors LLC raised its holdings in IREN by 240.0% during the fourth quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock worth $26,000 after acquiring an additional 480 shares in the last quarter. Global Retirement Partners LLC bought a new stake in IREN during the third quarter worth about $25,000. Finally, SLT Holdings LLC boosted its position in IREN by 6.0% during the third quarter. SLT Holdings LLC now owns 10,600 shares of the company’s stock valued at $497,000 after purchasing an additional 600 shares during the last quarter. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting IREN

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).

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.