On Friday, Aug. 29, IREN’s stock price soared to an all-time peak following the company’s impressive financial performance, prompting several analyst upgrades.
Summary
- IREN’s stock price rose to new heights after reporting robust financial results.
- Analysts on Wall Street are optimistic about the company’s transition to AI.
- Technical assessment suggests a possible short-lived pullback ahead.
IREN reached $28.50, marking an increase of 2,770% from its lowest point in 2023, resulting in a market cap exceeding $7.3 billion. The stock has gained over 140% this year.
Analysts Raise IREN Stock Target Following Earnings Report
As a leading Bitcoin (BTC) miner and emerging AI data center operator, IREN received enthusiastic recommendations from analysts after unveiling strong financial performance.
Darren Aftahi from Roth MKM revised his target upward from $26 to $35 while keeping a buy rating. Joseph Vafi at Cannacord Genuity increased his forecast to $37, and Nick Giles from B. Riley raised his target to $29.
The analysts’ optimistic outlook followed the company’s financial results, indicating growth in its Bitcoin mining and AI data center sectors during the second quarter.
IREN’s revenue surged by 255% in Q4’25 to $187.5 million. This growth was largely attributed to its mining operations, which contributed $180 million, along with AI cloud revenue rising to $7 million.
IREN’s mining division benefited from an increase in hash rate, leading to heightened Bitcoin production alongside higher BTC prices. Recent production reports indicate that it mined over 700 coins in July.
IREN aims to establish itself as a significant player in the AI cloud market, capitalizing on the ongoing boom. The company plans to leverage CoreWeave’s services to provide AI workloads for developers and has ordered thousands of Blackwell chips from Nvidia.
Analysts remain positive about IREN’s prospects, estimating average revenue for the current quarter at $240 million—a 342% year-over-year increase. Its annual revenue is expected to reach $1.1 billion in the new financial year.
IREN Share Price Analysis
The weekly chart indicates that IREN stock has experienced a significant bull run this year, a trend that intensified following the release of its financial results.
The share price remains well above the key resistance level of $15.90, where a double-top pattern was observed in 2024, and it is significantly higher than the moving averages.
As a result, the most anticipated scenario is a drop to retest the support at $15.90 before potentially resuming the upward trend. This pattern, known as a break-and-retest, is a common indicator of continuation.
Disclosure: This article is not intended as investment advice. The content presented here is for educational purposes only.
