Iris Energy Limited

NASDAQ Global Select
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Somewhat Bullish +45

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

📉 HC Wainwright lowered FY2026 EPS forecast to a $1.54 loss from $1.22 loss but retains a 'Buy' rating with a $90.00 price target.

📅 Q4 2026 through Q4 2027 earnings are projected as losses ranging between $0.16 and $0.64 per share according to HC Wainwright.

💰 Jefferies Financial Group, B. Riley Financial, and Canaccord Genuity maintain 'Buy' ratings with price targets between $79.00 and $96.00.

📉 JPMorgan Chase holds an 'Underweight' rating with a lower $46.00 price target amidst mixed analyst sentiment.

📊 Q1 2026 revenue of $144.79 million missed the consensus estimate of $219.69 million by approximately $75 million.

💸 The company reported a loss of $0.25 per share in Q1 2026, slightly worse than the expected $0.22 loss.

🏦 Institutional ownership stands at 41.08%, with GAMMA Investing LLC increasing its stake by 177.5% in the second quarter.

📈 Polianta Ltd and Teamwork Financial Advisors increased their positions by 5.9% and 28.9% respectively during Q2.

📉 The stock has a high beta of 4.27 and trades at a P/E ratio of 77.23 based on current earnings.

🏢 IREN operates bitcoin mining data centers and is headquartered in Sydney, Australia with a market cap of $13.25 billion.

Bullish Signals
  • HC Wainwright maintains a 'Buy' rating despite lowering the earnings forecast, indicating confidence in the long-term strategy.
  • Multiple major firms including Jefferies, B. Riley, and Canaccord Genuity hold 'Buy' ratings with price targets significantly above current levels.
  • Institutional investors are actively accumulating shares, with GAMMA Investing LLC increasing its stake by 177.5% in Q2.
  • The company maintains a strong liquidity position with a quick ratio and current ratio of 3.72.
  • Despite recent revenue misses, the company retains a positive net margin of 20.90%.
Risk Factors
  • HC Wainwright reduced its FY2026 EPS estimate to a larger loss of $1.54 per share compared to the previous forecast.
  • Q1 2026 revenue of $144.79 million significantly missed analyst expectations of $219.69 million.
  • JPMorgan Chase maintains an 'Underweight' rating with a price target of $46.00, diverging from other bullish analysts.
  • The company reported a negative return on equity of 13.13% for the quarter ended May 8th.
  • Consensus earnings estimates for FY2026 stand at a loss of $1.96 per share, indicating broader analyst caution.
Full Analysis
HC Wainwright analyst M. Colonnese reduced its FY2026 EPS forecast for IREN Limited to a loss of $1.54 per share, up from a prior estimate of $1.22 loss. Despite the downgrade in earnings expectations, the firm maintains a 'Buy' rating with a $90.00 price target. The analyst also provided specific quarterly estimates for 2027, projecting losses ranging from $0.37 to $0.64 per share through Q4 2027, with an FY2027 loss forecast of $1.79. The broader analyst sentiment remains mixed but generally positive regarding the stock's valuation potential. Jefferies Financial Group and Canaccord Genuity hold 'Buy' ratings with price targets around $79.00, while B. Riley Financial raised its objective to $96.00. Conversely, JPMorgan Chase maintains an 'Underweight' rating with a target of $46.00. The consensus market view reflects a 'Moderate Buy' stance with an average price target of $82.71. IREN reported Q1 2026 earnings on May 8th, posting a loss of $0.25 per share against a consensus expectation of $0.22 loss. The company generated revenue of $144.79 million, significantly missing the analyst forecast of $219.69 million. Financial metrics show a negative return on equity of 13.13% but a net margin of 20.90%. The stock trades at a market cap of $13.25 billion with a high beta of 4.27. Institutional ownership remains significant, with hedge funds controlling 41.08% of the float. Notable activity in the second quarter includes Polianta Ltd increasing its stake by 5.9%, Teamwork Financial Advisors growing holdings by 28.9%, and GAMMA Investing LLC raising its position by 177.5%. The company operates bitcoin mining data centers and is headquartered in Sydney, Australia.