Equities Analysts Set Expectations for IREN Q3 Earnings

IREN Limited (NASDAQ:IREN) – Equities researchers at HC Wainwright decreased their Q3 2026 EPS estimates for IREN in a research report issued to clients and investors on Monday, February 9th. HC Wainwright analyst M. Colonnese now anticipates that the company will post earnings per share of ($0.30) for the quarter, down from their prior 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.

IREN (NASDAQ:IREN) last posted its 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 negative return on equity of 10.01% and a net margin of 56.59%.The firm had revenue of $184.69 million for the quarter, compared to the consensus estimate of $229.64 million. The firm’s revenue was down 23.1% on a year-over-year basis.

A number of other analysts also recently issued reports on the company. Roth Mkm set a $94.00 price target on IREN and gave the company a “buy” rating in a research report on Monday, November 3rd. Cantor Fitzgerald cut their price target on shares of IREN to $82.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Zacks Research raised shares of IREN from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 16th. Citigroup started coverage on shares of IREN in a research report on Wednesday, November 19th. They set an “outperform” rating on the stock. Finally, Compass Point reissued a “buy” rating and issued a $105.00 target price on shares of IREN in a research note on Friday, November 7th. Thirteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.29.

IREN Price Performance

NASDAQ:IREN opened at $40.03 on Wednesday. The firm has a market capitalization of $11.35 billion, a price-to-earnings ratio of 30.10 and a beta of 4.27. IREN has a 52-week low of $5.13 and a 52-week high of $76.87. The stock has a fifty day moving average of $46.33 and a 200 day moving average of $43.10. The company has a debt-to-equity ratio of 1.51, a quick ratio of 4.96 and a current ratio of 4.96.

Institutional Trading of IREN

A number of hedge funds have recently modified their holdings of IREN. Global Retirement Partners LLC bought a new position in shares of IREN in the third quarter worth approximately $25,000. Miller Wealth Advisors LLC increased its stake in shares of IREN by 240.0% in the 4th quarter. Miller Wealth Advisors LLC now owns 680 shares of the company’s stock worth $26,000 after purchasing an additional 480 shares in the last quarter. North Star Investment Management Corp. purchased a new position in IREN during the fourth quarter valued at approximately $26,000. Clearstead Trust LLC bought a new position in shares of IREN in the fourth quarter worth about $27,000. Finally, Aventura Private Wealth LLC bought a new stake in shares of IREN in the fourth quarter worth about $28,000. Institutional investors own 41.08% of the company’s stock.

IREN News Roundup

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN will be added to the MSCI USA Index after the close on Feb. 27 — inclusion typically increases demand from index funds and passive investors, supporting medium‑term flows. Article Title
• Positive Sentiment: Major banks (reported syndicate members include Goldman Sachs and JPMorgan) are underwriting a multi‑billion credit facility to fund GPU expansion tied to a large Microsoft contract — this reduces dilution risk and materially de‑risks the company’s buildout financing. Article Title
• Positive Sentiment: Analysts and brokers are showing support: Canaccord Genuity reaffirmed a Buy on IREN, and Cantor Fitzgerald called the recent dip a buying opportunity amid the AI pivot — signals that institutional coverage remains constructive. Article Title Article Title
• Positive Sentiment: IREN is targeting $3.4B of AI cloud ARR by 2026 (backed by Microsoft deals, GPU financing and >4.5 GW secured power) — if achieved, this would materially re‑rate IREN from a volatile miner to an AI infrastructure play. Article Title
• Neutral Sentiment: Reports flag a large increase in short interest for February, but the data shown is internally inconsistent (0 shares / NaN changes) — watch for clearer short‑interest reads; mixed headlines can amplify intraday moves.
• Negative Sentiment: HC Wainwright reduced near‑term EPS forecasts across multiple quarters and cut FY2026/FY2027 estimates sharply (while retaining a Buy/$80 target). Lower earnings expectations increase downside risk if execution slips or revenue ramps slower than modeled.

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.