Ratings for Iris Energy (NASDAQ:IREN) were provided by 8 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 4 | 4 | 0 | 0 | 0 |
| Last 30D | 0 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 1 | 0 | 0 | 0 |
| 2M Ago | 1 | 1 | 0 | 0 | 0 |
| 3M Ago | 3 | 2 | 0 | 0 | 0 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $16.31, a high estimate of $20.00, and a low estimate of $12.00. Observing a downward trend, the current average is 6.8% lower than the prior average price target of $17.50.
Exploring Analyst Ratings: An In-Depth Overview
The perception of Iris Energy by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Brett Knoblauch | Cantor Fitzgerald | Maintains | Overweight | $20.00 | $20.00 |
| Brett Knoblauch | Cantor Fitzgerald | Maintains | Overweight | $20.00 | $20.00 |
| Darren Aftahi | Roth MKM | Announces | Buy | $14.00 | - |
| Lucas Pipes | B. Riley Securities | Lowers | Buy | $12.00 | $17.00 |
| Brett Knoblauch | Cantor Fitzgerald | Maintains | Overweight | $20.00 | $20.00 |
| Chase White | Compass Point | Lowers | Buy | $16.00 | $18.50 |
| Joseph Vafi | Canaccord Genuity | Maintains | Buy | $15.00 | $15.00 |
| Paul Golding | Macquarie | Raises | Outperform | $13.50 | $12.00 |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Iris Energy. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Iris Energy compared to the broader market.
- Price Targets: Understanding forecasts, analysts offer estimates for Iris Energy's future value. Examining the current and prior targets provides insight into analysts' changing expectations.
For valuable insights into Iris Energy's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
Stay up to date on Iris Energy analyst ratings.
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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: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Revenue Growth: Iris Energy's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 70.58%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: Iris Energy's net margin excels beyond industry benchmarks, reaching -46.37%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Iris Energy's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of -3.05%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Iris Energy's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of -2.88%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.0.
What Are Analyst Ratings?
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
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