What is HC Wainwright’s Forecast for IREN FY2026 Earnings?

IREN Limited (NASDAQ:IREN) – Equities researchers at HC Wainwright reduced their FY2026 EPS estimates for IREN in a research report issued on Wednesday, July 22nd. HC Wainwright analyst M. Colonnese now forecasts that the company will post earnings of ($1.54) per share for the year, down from their prior forecast of ($1.22). HC Wainwright has a “Buy” rating and a $90.00 price target on the stock. The consensus estimate for IREN’s current full-year earnings is ($1.96) per share. HC Wainwright also issued estimates for IREN’s Q4 2026 earnings at ($0.60) EPS, Q1 2027 earnings at ($0.64) EPS, Q2 2027 earnings at ($0.63) EPS, Q3 2027 earnings at ($0.37) EPS, Q4 2027 earnings at ($0.16) EPS and FY2027 earnings at ($1.79) EPS.

IREN has been the topic of a number of other research reports. Jefferies Financial Group assumed coverage on IREN in a research note on Thursday, June 18th. They set a “buy” rating and a $79.00 price target on the stock. Citigroup reiterated a “market outperform” rating on shares of IREN in a research note on Tuesday. B. Riley Financial increased their price objective on IREN from $88.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. raised their target price on shares of IREN from $39.00 to $46.00 and gave the stock an “underweight” rating in a research report on Monday, May 11th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $79.00 target price on shares of IREN in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, IREN currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.71.

IREN Stock Down 8.6%

IREN stock opened at $37.07 on Friday. IREN has a fifty-two week low of $14.72 and a fifty-two week high of $76.87. 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 capitalization of $13.25 billion, a P/E ratio of 77.23 and a beta of 4.27. The stock has a 50-day simple moving average of $50.69 and a 200-day simple moving average of $47.60.

IREN (NASDAQ:IREN) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). IREN had a negative return on equity of 13.13% and a net margin of 20.90%.The firm had revenue of $144.79 million for the quarter, compared to analysts’ expectations of $219.69 million.

Institutional Trading of IREN

Several institutional investors and hedge funds have recently added to or reduced their stakes in IREN. Polianta Ltd lifted its position in IREN by 5.9% during the 2nd quarter. Polianta Ltd now owns 37,400 shares of the company’s stock worth $1,710,000 after acquiring an additional 2,100 shares during the period. Teamwork Financial Advisors LLC grew its stake in shares of IREN by 28.9% in the 2nd quarter. Teamwork Financial Advisors LLC now owns 21,894 shares of the company’s stock valued at $1,001,000 after purchasing an additional 4,906 shares during the last quarter. Gainplan LLC acquired a new position in shares of IREN in the second quarter valued at approximately $215,000. Balefire LLC increased its holdings in shares of IREN by 2.9% in the second quarter. Balefire LLC now owns 26,684 shares of the company’s stock valued at $1,220,000 after purchasing an additional 760 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of IREN by 177.5% during the second quarter. GAMMA Investing LLC now owns 691 shares of the company’s stock worth $32,000 after purchasing an additional 442 shares during the last quarter. 41.08% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN’s recent $2.8 billion in multi-year AI cloud contracts with customers including Microsoft and NVIDIA continues to support the bullish case, lifting its 2026 AI Cloud ARR target above $4 billion and reinforcing the company’s pivot from Bitcoin mining to AI infrastructure. Is IREN (IREN) Undervalued Following Its $2.8b AI Cloud Contract Win?
• Positive Sentiment: Market commentary on the AI trade has highlighted IREN as a beneficiary of renewed enthusiasm for AI infrastructure after Alphabet raised its AI capex outlook, which helped lift sentiment across names like IREN, Nebius, and CoreWeave. Nebius, CoreWeave, IREN Stocks Rises After Alphabet Raises AI Capex Forecast
• Positive Sentiment: Several recent articles frame IREN as a possible winner in the neocloud race, arguing that its owned-infrastructure model could be more defensible than some peers as hyperscaler demand grows. IREN Vs Nebius: Which Neocloud Should You Buy and Why?
• Neutral Sentiment: HC Wainwright kept a Buy rating and $90 price target on IREN, but the firm made mixed earnings revisions across future periods, with some estimates raised and others cut, which suggests analysts still see long-term upside but near-term execution risk. IREN Limited (NASDAQ: IREN) analyst coverage
• Neutral Sentiment: Short-interest data did not show a meaningful new bearish signal, with reported short interest effectively unchanged at zero shares, so this item is unlikely to be driving the move. IREN Limited (NASDAQ: IREN) short interest
• Negative Sentiment: The stock is also facing pressure from analyst forecast cuts for several future quarters and fiscal years, including lower EPS estimates for Q4 2026, Q1 2027, Q3 2027, Q4 2027, FY2026, and FY2027, reinforcing concerns that profitability may remain volatile during the AI buildout. IREN Limited (NASDAQ: IREN) analyst estimates

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.