IREN (IREN) to Release Earnings on Thursday
by Doug Wharley · The Cerbat GemIREN (NASDAQ:IREN – Get Free Report) is expected to be releasing its Q3 2026 results after the market closes on Thursday, May 7th. Analysts expect the company to announce earnings of ($0.2184) per share and revenue of $219.6860 million for the quarter. Investors can find conference call details on the company’s upcoming Q3 2026 earning report page for the latest details on the call scheduled for Wednesday, May 13, 2026 at 5:00 PM ET.
IREN (NASDAQ:IREN – Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.37). IREN had a net margin of 56.59% and a negative return on equity of 10.01%. The firm had revenue of $184.69 million during the quarter, compared to analyst estimates of $229.64 million. The company’s revenue for the quarter was down 23.1% on a year-over-year basis. On average, analysts expect IREN to post $-1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
IREN Trading Up 10.0%
IREN stock traded up $4.97 during midday trading on Tuesday, hitting $54.45. 26,004,330 shares of the stock were exchanged, compared to its average volume of 37,604,551. The stock has a market capitalization of $18.09 billion, a PE ratio of 40.65 and a beta of 4.17. The company has a fifty day simple moving average of $41.70 and a two-hundred day simple moving average of $46.84. The company has a quick ratio of 4.96, a current ratio of 4.96 and a debt-to-equity ratio of 1.51. IREN has a 52 week low of $6.01 and a 52 week high of $76.87.
Institutional Trading of IREN
Institutional investors have recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of IREN by 45.9% during the second quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock worth $43,341,000 after buying an additional 936,333 shares in the last quarter. StoneX Group Inc. acquired a new position in IREN during the 2nd quarter worth approximately $158,000. NewEdge Advisors LLC grew its stake in shares of IREN by 245.0% during the 2nd quarter. NewEdge Advisors LLC now owns 43,281 shares of the company’s stock worth $631,000 after acquiring an additional 30,736 shares in the last quarter. Sei Investments Co. bought a new position in shares of IREN during the 2nd quarter worth approximately $2,333,000. Finally, Peapack Gladstone Financial Corp raised its holdings in shares of IREN by 30.0% in the second quarter. Peapack Gladstone Financial Corp now owns 18,200 shares of the company’s stock valued at $265,000 after purchasing an additional 4,200 shares during the last quarter. 41.08% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
IREN has been the topic of a number of recent analyst reports. B. Riley Financial reissued a “buy” rating on shares of IREN in a research report on Friday, February 6th. HC Wainwright raised IREN from a “sell” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Tuesday, January 13th. Canaccord Genuity Group reissued a “buy” rating and issued a $70.00 target price on shares of IREN in a research note on Tuesday, February 10th. Wall Street Zen downgraded IREN from a “hold” rating to a “strong sell” rating in a report on Saturday, February 7th. Finally, Cantor Fitzgerald dropped their price target on IREN to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Thirteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, IREN presently has an average rating of “Moderate Buy” and an average target price of $70.08.
Check Out Our Latest Analysis on IREN
IREN News Roundup
Here are the key news stories impacting IREN this week:
- Positive Sentiment: Announced acquisition of Mirantis for $625 million to add Kubernetes orchestration and enterprise support, directly strengthening IREN’s AI cloud delivery capabilities and accelerating product-market fit for enterprise AI customers. IREN Announces Acquisition of Mirantis to Strengthen AI Cloud Delivery Capabilities
- Positive Sentiment: 1.4 GW Sweetwater 1 data center was energized, de‑risking capacity buildout and supporting near‑term revenue expansion for IREN’s AI hosting business. Operational progress reduces execution uncertainty around capacity ramp. IREN: Show Me The AI Revenue
- Positive Sentiment: Analyst commentary highlights strong AI cloud growth and Microsoft-driven momentum, boosting narrative that IREN is transitioning from bitcoin mining to higher‑value AI/cloud revenue streams. This optimism supports multiple expansion. IREN to Report Q3 Earnings: Should You Buy, Sell or Hold the Stock?
- Neutral Sentiment: Market momentum: several headlines note a multi‑day rally and volume pickup as investors reposition into IREN ahead of earnings — this lifts sentiment but may reverse if results disappoint. Iren Continues AI Infrastructure Shift With $625 Mil Acquisition, Shares Add To 31% Rally
- Neutral Sentiment: Analysts note IREN’s relatively clean balance sheet and attractive price‑to‑book among small‑cap “neo‑clouds,” which supports longer‑term upside but doesn’t eliminate near‑term execution risk. IREN: Show Me The AI Revenue
- Negative Sentiment: Zacks warns that falling bitcoin revenues and rising costs could pressure upcoming quarterly results — a reminder that legacy mining volatility and cost trends could blunt the AI uplift in near‑term earnings. IREN to Report Q3 Earnings: Should You Buy, Sell or Hold the Stock?
- Negative Sentiment: Execution risk: while IREN targets large AI ARR goals, analysts caution the company must execute on multiple large builds and integrations (including Mirantis) to hit targets — failure to scale smoothly would reverse investor enthusiasm. IREN: Show Me The AI Revenue
- Negative Sentiment: Recent earnings background: IREN has posted revenue and EPS misses in prior quarters, so upcoming earnings will be a key catalyst — disappointing results could erase the current rally. (See analyst previews above.)
IREN Company Profile
IREN Limited, formerly known as Iris Energy Limited, owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.