Northland Securities started coverage on shares of IREN (NASDAQ:IREN – Get Free Report) in a research note issued on Friday, Briefing.com reports. The brokerage set an “outperform” rating and a $99.00 price target on the stock. Northland Securities’ target price indicates a potential upside of 127.69% from the company’s current price.
IREN has been the topic of a number of other research reports. HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of IREN in a report on Friday, August 28th. Citigroup reiterated a “market outperform” rating on shares of IREN in a research report on Friday, August 28th. Morgan Stanley cut IREN to a “buy” rating in a report on Wednesday, September 2nd. Canaccord Genuity Group restated a “buy” rating and issued a $79.00 price objective on shares of IREN in a report on Friday, August 28th. Finally, B. Riley Financial raised their price objective on IREN from $88.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.
Get Our Latest Stock Analysis on IREN
IREN Trading Up 2.0%
Institutional Investors Weigh In On IREN
Several large investors have recently modified their holdings of IREN. Situational Awareness LP boosted its position in shares of IREN by 34.5% in the 1st quarter. Situational Awareness LP now owns 11,698,835 shares of the company’s stock worth $401,036,000 after buying an additional 2,998,214 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in IREN during the fourth quarter valued at about $158,677,000. Clear Street Group Inc. acquired a new stake in IREN during the fourth quarter worth about $137,075,000. Bank of America Corp DE increased its stake in IREN by 58.4% during the first quarter. Bank of America Corp DE now owns 2,138,619 shares of the company’s stock worth $73,312,000 after acquiring an additional 788,547 shares during the last quarter. Finally, Capital Research Global Investors bought a new position in IREN during the 4th quarter valued at $38,730,000. 41.08% of the stock is owned by institutional investors and hedge funds.
Key Headlines Impacting IREN
Here are the key news stories impacting IREN this week:
- Positive Sentiment: JPMorgan turned bullish: Analyst Richard Choe reportedly upgraded IREN and set a $65 price target, citing the company’s AI-cloud opportunity and its approximately $5.5 billion, five-year Nvidia-related partnership. IREN Stock Jumps 4% as JPMorgan Flips Bullish With $65 Target
- Positive Sentiment: AI infrastructure pricing supports the investment case: Nebius’ reported price increases for Nvidia GPU rentals suggest strong demand and pricing power across the “neocloud” industry, benefiting peers such as IREN. Nebius Stock and IREN Gain. AI Neoclouds Are Flexing Their Pricing Power
- Positive Sentiment: Broader market recovery helped the shares: IREN participated in a rebound following recent Federal Reserve-driven volatility, while reports highlighted robust demand for AI computing capacity. Why Is IREN Stock Surging Thursday?
- Neutral Sentiment: CEO Daniel Roberts argues that AI-compute demand remains supply-constrained, but analysts note that the financial benefits are not yet straightforward because IREN must spend heavily to build capacity. IREN’s CEO Says Demand Is Strong, The Financials Says It’s Complicated
- Negative Sentiment: Risks remain elevated: Recent coverage cited a sharp weekly pullback, premium valuation, substantial spending and execution risks. One analysis suggested the stock’s earlier re-rating may be largely complete, potentially limiting near-term upside. IREN Limited: Compelling Growth Story, But The Re-Rating Is Likely Done
IREN Company Profile
IREN Limited, formerly known as Iris Energy Limited, is a data center infrastructure company focused on high-performance computing. The company develops and operates data centers powered by renewable energy and uses this infrastructure primarily for Bitcoin mining and, increasingly, artificial intelligence and other GPU-intensive cloud-computing applications.
IREN designs, builds and operates its own data centers, providing access to electrical power, computing hardware and related infrastructure.
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