What Analysts Are Saying About Iris Energy Stock


Across the recent three months, 10 analysts have shared their insights on Iris Energy IREN, expressing a variety of opinions spanning from bullish to bearish.

Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.

Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish
Total Ratings 6 4 0 0 0
Last 30D 1 0 0 0 0
1M Ago 0 2 0 0 0
2M Ago 3 0 0 0 0
3M Ago 2 2 0 0 0

Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $12.2, with a high estimate of $23.00 and a low estimate of $9.00. Marking an increase of 27.35%, the current average surpasses the previous average price target of $9.58.

Decoding Analyst Ratings: A Detailed Look

A comprehensive examination of how financial experts perceive Iris Energy is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.

Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target
Lucas Pipes B. Riley Securities Raises Buy $18.00 $9.50
Brett Knoblauch Cantor Fitzgerald Announces Overweight $23.00 -
Reginald Smith JP Morgan Raises Overweight $11.00 $10.00
Mike Colonnese HC Wainwright & Co. Maintains Buy $10.00 $10.00
Joseph Vafi Canaccord Genuity Raises Buy $12.00 $9.00
Joseph Vafi Canaccord Genuity Maintains Buy $9.00 $9.00
Mike Colonnese HC Wainwright & Co. Maintains Buy $10.00 $10.00
Josh Siegler Cantor Fitzgerald Maintains Overweight $10.00 -
Joseph Vafi Canaccord Genuity Maintains Buy $9.00 -
Josh Siegler Cantor Fitzgerald Maintains Overweight $10.00 -

Key Insights:

  • Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Iris Energy. This information provides a snapshot of how analysts perceive the current state of the company.
  • Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Iris Energy compared to the broader market.
  • Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.

Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Iris Energy's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.

Stay up to date on Iris Energy analyst ratings.

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All You Need to Know About Iris Energy

Iris Energy Ltd is a Bitcoin mining company. It builds, owns, and operates data centers and electrical infrastructure for the mining of Bitcoin powered by renewable energy. The company's mining operations generate revenue by earning Bitcoin through a combination of block rewards and transaction fees from the operation of its specialized computers called Application-specific Integrated Circuits and exchanging these Bitcoin for currencies such as USD or CAD on a daily basis.

Iris Energy's Financial Performance

Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.

Positive Revenue Trend: Examining Iris Energy's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 376.3% as of 31 March, 2024, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Information Technology sector.

Net Margin: Iris Energy's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 16.01%, the company showcases strong profitability and effective cost management.

Return on Equity (ROE): Iris Energy's ROE excels beyond industry benchmarks, reaching 1.63%. This signifies robust financial management and efficient use of shareholder equity capital.

Return on Assets (ROA): Iris Energy's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.51% ROA, the company effectively utilizes its assets for optimal returns.

Debt Management: Iris Energy's debt-to-equity ratio is below the industry average at 0.0, reflecting a lower dependency on debt financing and a more conservative financial approach.

The Basics of Analyst Ratings

Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.

Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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