These Analysts Revise Their Forecasts On IREN Following Q1 Results

IREN Limited (NASDAQ:IREN) shares were up after the company released its first-quarter earnings report after Thursday’s closing bell, beating estimates on the top and bottom lines.

IREN reported quarterly earnings of $1.08 per share, which beat the consensus estimate of 14 cents per share. Quarterly revenue came in at $240.3 million, which beat the Street estimate of $235.5 million.

"IREN continues to execute with discipline, delivering record results this quarter and meaningful progress in our AI Cloud expansion," said Daniel Roberts, co-CEO of IREN. "We secured several new multi-year contracts, including a landmark partnership with Microsoft, which solidifies IREN's position as a leading AI Cloud Service Provider and expands our reach into new hyperscale customer segments."

IREN shares fell 3.4% to trade at $64.70 on Friday.

These analysts made changes to their price targets on IREN following earnings announcement.

• Cantor Fitzgerald analyst Brett Knoblauch maintained IREN with an Overweight rating and lowered the price target from $142 to $136.
• HC Wainwright & Co. analyst Mike Colonnese maintained IREN with a Sell rating and raised the price target from $45 to $56.

Considering buying IREN stock? Here’s what analysts think:

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