IREN has announced its financial results for the third quarter, recording a revenue of $148.1 million, which falls just below the market prediction of $149.33 million. According to Daniel Roberts, the co-CEO, the company continues to experience robust growth in EBITDA and net profit. The firm's strategic emphasis on large-scale data center sites has been instrumental in sustaining rapid growth and robust profit margins. IREN is set to become a leading and cost-effective Bitcoin producer with a capacity of 50 EH/s expected to be achieved soon. The company has decided to halt further expansion in mining activities to concentrate on advancing its AI infrastructure projects.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 10 analysts, the average target price for IREN Ltd (IREN, Financial) is $20.43 with a high estimate of $25.00 and a low estimate of $14.00. The average target implies an upside of 156.27% from the current price of $7.97. More detailed estimate data can be found on the IREN Ltd (IREN) Forecast page.
Based on the consensus recommendation from 12 brokerage firms, IREN Ltd's (IREN, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for IREN Ltd (IREN, Financial) in one year is $15.27, suggesting a upside of 91.59% from the current price of $7.97. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the IREN Ltd (IREN) Summary page.
