Research Analysts Set Expectations for IREN Q3 Earnings

IREN Limited (NASDAQ:IREN) – Research analysts at HC Wainwright dropped their Q3 2026 earnings estimates for IREN in a research report issued on Monday, February 9th. HC Wainwright analyst M. Colonnese now expects that the company will post earnings per share of ($0.30) for the quarter, down from their previous estimate of ($0.18). HC Wainwright currently has a “Buy” rating and a $80.00 target price on the stock. The consensus estimate for IREN’s current full-year earnings is $0.43 per share. HC Wainwright also issued estimates for IREN’s Q4 2026 earnings at ($0.23) EPS, FY2026 earnings at ($1.12) EPS, Q1 2027 earnings at ($0.14) EPS, Q2 2027 earnings at ($0.11) EPS, Q3 2027 earnings at ($0.14) EPS, Q4 2027 earnings at ($0.13) EPS and FY2027 earnings at ($0.51) EPS.

Several other equities analysts have also recently commented on IREN. Wall Street Zen cut IREN from a “hold” rating to a “strong sell” rating in a report on Saturday, February 7th. Compass Point restated a “buy” rating and issued a $105.00 target price on shares of IREN in a research note on Friday, November 7th. Citizens Jmp assumed coverage on IREN in a research report on Wednesday, November 19th. They issued a “market outperform” rating and a $80.00 target price for the company. Cantor Fitzgerald lowered their price target on shares of IREN to $82.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Finally, UBS Group reaffirmed a “buy” rating on shares of IREN in a report on Friday, November 7th. Thirteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, IREN presently has an average rating of “Moderate Buy” and an average target price of $72.29.

IREN Stock Down 0.6%

NASDAQ IREN opened at $42.67 on Wednesday. IREN has a twelve month low of $5.13 and a twelve month high of $76.87. The stock has a market cap of $12.10 billion, a PE ratio of 32.08 and a beta of 4.27. The firm has a 50-day simple moving average of $46.45 and a 200 day simple moving average of $43.12. The company has a debt-to-equity ratio of 1.51, a quick ratio of 4.96 and a current ratio of 4.96.

IREN (NASDAQ:IREN) last issued its quarterly earnings results on Thursday, February 5th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.37). IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The company had revenue of $184.69 million during the quarter, compared to the consensus estimate of $229.64 million. IREN’s revenue was down 23.1% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IREN. Vanguard Personalized Indexing Management LLC raised its holdings in shares of IREN by 16.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,160 shares of the company’s stock worth $308,000 after acquiring an additional 2,952 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in IREN during the 2nd quarter worth approximately $10,743,000. Hartline Investment Corp purchased a new stake in shares of IREN in the second quarter worth approximately $228,000. Chicago Partners Investment Group LLC lifted its holdings in shares of IREN by 14.4% in the second quarter. Chicago Partners Investment Group LLC now owns 75,508 shares of the company’s stock valued at $1,100,000 after purchasing an additional 9,492 shares in the last quarter. Finally, Drive Wealth Management LLC boosted its position in shares of IREN by 3.0% during the second quarter. Drive Wealth Management LLC now owns 40,924 shares of the company’s stock valued at $596,000 after buying an additional 1,179 shares during the last quarter. 41.08% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Major institutional financing and customer wins reduce execution risk — reporting indicates a multi‑billion credit facility (reported syndicate includes top banks) to fund GPU/data‑center buildout and a large Microsoft contract that supports management’s $3.4B AI‑cloud ARR target. This improves funding visibility and lowers near‑term dilution risk. IREN Pivot To AI Infrastructure With Microsoft Contract
• Positive Sentiment: Brokerage support: Canaccord reconfirmed its Buy rating with a $70 target and Cantor Fitzgerald flagged the post‑dip weakness as a buying opportunity amid IREN’s AI pivot — these notes can attract tactical buyers and institutional interest. Cantor Fitzgerald Views IREN After‑Hours Dip as Buying Opportunity Canaccord Note (Benzinga)
• Positive Sentiment: Short‑interest dynamics are easing compared with mid‑January — a prior report showed a large decline in shorted shares (down to ~40.9M, ~15.2% of float), which can reduce short‑selling pressure and volatility over the short term. No link
• Neutral Sentiment: Revenue/strategy angle: Analysts and commentaries are focused on IREN’s stated goal of $3.4B AI cloud ARR by 2026 — if execution hits milestones this is material upside, but it’s an execution‑dependent target. Zacks: IREN Aims for $3.4B AI Cloud ARR by 2026
• Neutral Sentiment: Market commentary pieces (Invezz, Zacks thematic articles) highlight the stock as a “buy‑the‑dip” candidate within AI infrastructure but emphasize sector CAPEX/cash‑flow dynamics — helpful context but not new company‑level catalysts. Invezz: Is It Safe to Buy the Dip?
• Negative Sentiment: Analyst estimate cuts from HC Wainwright: the firm sharply lowered quarterly and full‑year EPS forecasts across 2026–2027 (several quarters moved deeper into negative EPS), which increases the near‑term earnings disappointment risk and can pressure sentiment despite the firm’s Buy rating and high price target. MarketBeat: IREN Analyst Notes
• Negative Sentiment: Recent quarterly results missed revenue and EPS estimates, which triggered a short‑term selloff and contributed to volatility — until AI contract revenue materializes, backwards‑looking misses can keep algos and momentum traders wary. MarketBeat: Earnings Recap

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.