Iris Energy (IREN) Stock Forecast, Price Target & Predictions
IREN Stock Forecast
Iris Energy stock forecast is as follows: an average price target of $13.36 (represents a 66.38% upside from IREN’s last price of $8.03) and a rating consensus of 'Buy', based on 8 wall street analysts offering a 1-year stock forecast.
IREN Price Target
The average price target for Iris Energy (IREN) is $13.36 based on 1-year price targets from 8 Wall Street analysts in the past 3 months, with a price target range of $23.00 to $6.00. This represents a potential 66.38% upside from IREN's last price of $8.03.
IREN Analyst Ratings
According to 8 Wall Street analysts, Iris Energy's rating consensus is 'Buy'. The analyst rating breakdown for IREN stock is 0 'Strong Buy' (0.00%), 6 'Buy' (75.00%), 2 'Hold' (25.00%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).
Iris Energy Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Sep 13, 2024 | Lucas Pipes | B.Riley Financial | $12.00 | $7.39 | 62.38% | 49.44% |
| Aug 30, 2024 | Paul Golding | Macquarie | $13.50 | $8.52 | 58.45% | 68.12% |
| Aug 30, 2024 | Joe Flynn | Compass Point | $16.00 | $8.52 | 87.79% | 99.25% |
| Jul 24, 2024 | Joseph Vafi | Canaccord Genuity | $15.00 | $10.89 | 37.74% | 86.80% |
| Jun 24, 2024 | Lucas Pipes | B.Riley Financial | $18.00 | $12.53 | 43.71% | 124.16% |
| Jun 10, 2024 | Brett Knoblauch | Cantor Fitzgerald | $23.00 | $10.31 | 123.08% | 186.43% |
| May 16, 2024 | Joseph Vafi | Canaccord Genuity | $12.00 | $5.20 | 130.77% | 49.44% |
| Feb 16, 2023 | Mike Colonnese | H.C. Wainwright | $8.00 | $4.40 | 81.82% | -0.37% |
| Nov 22, 2022 | - | H.C. Wainwright | $3.00 | $1.55 | 93.55% | -62.64% |
| Sep 15, 2022 | - | Citigroup | $6.00 | $4.22 | 42.18% | -25.28% |
The latest Iris Energy stock forecast, released on Sep 13, 2024 by Lucas Pipes from B.Riley Financial, set a price target of $12.00, which represents a 62.38% increase from the stock price at the time of the forecast ($7.39), and a 49.44% increase from IREN last price ($8.03).
Iris Energy Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | 3 | 5 | 7 |
| Avg Price Target | $13.83 | $14.90 | $15.64 |
| Last Closing Price | $8.03 | $8.03 | $8.03 |
| Upside/Downside | 72.23% | 85.55% | 94.77% |
In the current month, the average price target of Iris Energy stock is $13.83, according to 3 Wall Street analysts offering twelve months forecast. The average price target represents a 72.23% increase as opposed to Iris Energy's last price of $8.03. This month's average price target is down -7.18% compared to last quarter, and down -11.57% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Sep 13, 2024 | H.C. Wainwright | Underperform | Underperform | Hold |
| Sep 13, 2024 | Macquarie | Buy | Buy | Hold |
| Aug 30, 2024 | Macquarie | Outperform | Outperform | Hold |
| Aug 30, 2024 | Compass Point | Buy | Buy | Hold |
| Aug 23, 2024 | Cantor Fitzgerald | Underperform | Underperform | Hold |
| Aug 23, 2024 | J.P. Morgan | Buy | Buy | Hold |
| Jul 12, 2024 | Cantor Fitzgerald | Buy | Buy | Hold |
| Jul 12, 2024 | Canaccord Genuity | Underperform | Underperform | Hold |
| Jul 09, 2024 | Bernstein | - | Outperform | Initialise |
| Jun 24, 2024 | Cantor Fitzgerald | Underperform | Underperform | Hold |
Iris Energy's last stock rating was published by H.C. Wainwright on Sep 13, 2024. The company gave IREN a "Underperform" rating, the same as its previous rate.
Iris Energy Financial Forecast
Iris Energy Revenue Forecast
| Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $8.62M | - | $12.42M | $15.18M | $19.99M |
| Avg Forecast | $392.38M | $340.78M | $305.97M | $246.27M | $151.60M | $154.98M | $159.42M | $157.25M | $161.69M | $141.87M | $108.44M | $61.14M | $57.45M | $51.48M | $37.58M | $34.13M | $34.16M | $20.23M | $13.31M | $15.02M | $20.23M | $20.03M | $22.94M |
| High Forecast | $431.54M | $374.80M | $336.51M | $270.85M | $166.73M | $170.45M | $175.33M | $172.95M | $177.82M | $156.03M | $119.26M | $67.24M | $58.24M | $56.62M | $41.43M | $37.53M | $37.57M | $22.25M | $14.64M | $16.52M | $20.23M | $24.04M | $27.53M |
| Low Forecast | $307.31M | $266.90M | $239.64M | $192.88M | $118.73M | $121.38M | $124.86M | $123.16M | $126.63M | $111.11M | $84.93M | $47.88M | $55.88M | $40.32M | $30.50M | $26.73M | $26.75M | $15.84M | $10.43M | $11.76M | $20.23M | $16.02M | $18.35M |
| # Analysts | 3 | 3 | 4 | 4 | 4 | 4 | 2 | 2 | 2 | 2 | 3 | 6 | 3 | 2 | 3 | 1 | 4 | 6 | 2 | 2 | 2 | 7 | 8 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.65% | - | 0.61% | 0.76% | 0.87% |
Iris Energy's average Quarter revenue forecast for Mar 23 based on 6 analysts is $20.23M, with a low forecast of $15.84M, and a high forecast of $22.25M. IREN's average Quarter revenue forecast represents a 134.71% increase compared to the company's last Quarter revenue of $8.62M (Dec 22).
Iris Energy EBITDA Forecast
| Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 3 | 3 | 4 | 4 | 4 | 4 | 2 | 2 | 2 | 2 | 3 | 6 | 3 | 2 | 3 | 1 | 4 | 6 | 2 | 2 | 2 | 7 | 8 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $-26.74M | - | $-6.31M | $3.20M | $90.20M |
| Avg Forecast | $-45.08M | $-39.16M | $-35.16M | $-28.30M | $-17.42M | $-17.81M | $-18.32M | $-18.07M | $-18.58M | $-16.30M | $-12.46M | $-7.02M | $-6.60M | $-5.91M | $-4.32M | $-3.92M | $-3.92M | $-2.32M | $-1.53M | $-1.73M | $1.25M | $-6.89M | $1.41M |
| High Forecast | $-35.31M | $-30.67M | $-27.53M | $-22.16M | $-13.64M | $-13.95M | $-14.35M | $-14.15M | $-14.55M | $-12.77M | $-9.76M | $-5.50M | $-6.42M | $-4.63M | $-3.50M | $-3.07M | $-3.07M | $-1.82M | $-1.20M | $-1.35M | $1.25M | $-5.51M | $1.70M |
| Low Forecast | $-49.58M | $-43.06M | $-38.66M | $-31.12M | $-19.16M | $-19.58M | $-20.15M | $-19.87M | $-20.43M | $-17.93M | $-13.70M | $-7.73M | $-6.69M | $-6.51M | $-4.76M | $-4.31M | $-4.32M | $-2.56M | $-1.68M | $-1.90M | $1.25M | $-8.27M | $1.13M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 17.48% | - | -5.06% | -0.46% | 63.76% |
2 analysts predict IREN's average Quarter EBITDA for Jun 22 to be $1.25M, with a high of $1.25M and a low of $1.25M. This is -61.04% lower than Iris Energy's previous annual EBITDA (Mar 22) of $3.20M.
Iris Energy Net Income Forecast
| Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 3 | 3 | 4 | 4 | 4 | 4 | 2 | 2 | 2 | 2 | 3 | 6 | 3 | 2 | 3 | 1 | 4 | 6 | 2 | 2 | 2 | 7 | 8 |
| Net Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $-143.95M | - | $17.82M | $-2.68M | $71.60M |
| Avg Forecast | $27.60M | $23.21M | $26.97M | $9.81M | $9.50M | $15.74M | $36.88M | $40.91M | $35.19M | $25.95M | $12.85M | $-9.77M | $4.99M | $6.74M | $-20.50M | $-2.36M | $-30.41M | $38.19M | $-32.84M | $13.26M | $22.99M | $-7.58M | $632.72M |
| High Forecast | $31.19M | $26.22M | $30.47M | $11.08M | $10.73M | $17.78M | $41.67M | $46.22M | $39.75M | $29.32M | $14.52M | $-3.26M | $5.63M | $7.62M | $-14.72M | $-1.70M | $-21.84M | $43.14M | $-23.59M | $14.98M | $22.99M | $-6.06M | $759.26M |
| Low Forecast | $19.82M | $16.67M | $19.37M | $7.05M | $6.82M | $11.30M | $26.49M | $29.38M | $25.27M | $18.64M | $9.23M | $-14.66M | $3.58M | $4.84M | $-23.16M | $-2.67M | $-34.35M | $27.43M | $-37.11M | $9.53M | $22.99M | $-9.09M | $506.17M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 4.38% | - | 0.77% | 0.35% | 0.11% |
Iris Energy's average Quarter net income forecast for Sep 22 is $13.26M, with a range of $9.53M to $14.98M. IREN's average Quarter net income forecast represents a -25.56% decrease compared to the company's last Quarter net income of $17.82M (Jun 22).
Iris Energy SG&A Forecast
| Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 3 | 3 | 4 | 4 | 4 | 4 | 2 | 2 | 2 | 2 | 3 | 6 | 3 | 2 | 3 | 1 | 4 | 6 | 2 | 2 | 2 | 7 | 8 |
| SG&A | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $10.55M | - | $11.23M | $7.84M | $9.83M |
| Avg Forecast | $183.55M | $159.41M | $143.13M | $115.20M | $70.91M | $72.49M | $74.57M | $73.56M | $75.63M | $66.36M | $50.73M | $28.60M | $26.87M | $24.08M | $17.58M | $15.96M | $15.98M | $9.46M | $6.23M | $7.03M | $441.87M | $437.55M | $501.12M |
| High Forecast | $201.87M | $175.32M | $157.41M | $126.70M | $77.99M | $79.73M | $82.02M | $80.90M | $83.18M | $72.99M | $55.79M | $31.45M | $27.24M | $26.48M | $19.38M | $17.56M | $17.57M | $10.41M | $6.85M | $7.73M | $441.87M | $525.06M | $601.34M |
| Low Forecast | $143.75M | $124.85M | $112.10M | $90.23M | $55.54M | $56.78M | $58.41M | $57.61M | $59.24M | $51.98M | $39.73M | $22.40M | $26.14M | $18.86M | $14.27M | $12.50M | $12.51M | $7.41M | $4.88M | $5.50M | $441.87M | $350.04M | $400.90M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.69% | - | 0.03% | 0.02% | 0.02% |
Iris Energy's average Quarter SG&A projection for Mar 23 is $9.46M, based on 6 Wall Street analysts, with a range of $7.41M to $10.41M. The forecast indicates a -10.34% fall compared to IREN last annual SG&A of $10.55M (Dec 22).
Iris Energy EPS Forecast
| Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 3 | 3 | 4 | 4 | 4 | 4 | 2 | 2 | 2 | 2 | 3 | 6 | 3 | 2 | 3 | 1 | 4 | 6 | 2 | 2 | 2 | 7 | 8 |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $-2.71 | - | $0.34 | $-0.05 | $1.94 |
| Avg Forecast | $0.15 | $0.12 | $0.14 | $0.05 | $0.05 | $0.08 | $0.20 | $0.22 | $0.19 | $0.14 | $0.07 | $-0.05 | $0.03 | $0.04 | $-0.11 | $-0.01 | $-0.16 | $0.20 | $-0.18 | $0.07 | $0.20 | $1.43 | $1.89 |
| High Forecast | $0.17 | $0.14 | $0.16 | $0.06 | $0.06 | $0.10 | $0.22 | $0.25 | $0.21 | $0.16 | $0.08 | $-0.02 | $0.03 | $0.04 | $-0.08 | $-0.01 | $-0.12 | $0.23 | $-0.13 | $0.08 | $0.20 | $1.43 | $1.89 |
| Low Forecast | $0.11 | $0.09 | $0.10 | $0.04 | $0.04 | $0.06 | $0.14 | $0.16 | $0.14 | $0.10 | $0.05 | $-0.08 | $0.02 | $0.03 | $-0.12 | $-0.01 | $-0.18 | $0.15 | $-0.20 | $0.05 | $0.20 | $1.43 | $1.89 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 15.38% | - | 1.66% | -0.04% | 1.03% |
According to 2 Wall Street analysts, Iris Energy's projected average Quarter EPS for Sep 22 is $0.07, with a low estimate of $0.05 and a high estimate of $0.08. This represents a -79.07% decrease compared to IREN previous annual EPS of $0.34 (Jun 22).
IREN Forecast FAQ
Is Iris Energy a good buy?
Yes, according to 8 Wall Street analysts, Iris Energy (IREN) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 6 'Buy' recommendations, accounting for 75.00% of IREN's total ratings.
What is IREN's price target?
Iris Energy (IREN) average price target is $13.36 with a range of $6 to $23, implying a 66.38% from its last price of $8.03. The data is based on 8 Wall Street analysts who provided a twelve-month price target estimate in the last three months.
Will Iris Energy stock go up soon?
According to Wall Street analysts' prediction for IREN stock, the company can go up by 66.38% (from the last price of $8.03 to the average price target of $13.36), up by 186.43% based on the highest stock price target, and down by -25.28% based on the lowest stock price target.
Can Iris Energy stock reach $12?
IREN's average twelve months analyst stock price target of $13.36 supports the claim that Iris Energy can reach $12 in the near future.
What is Iris Energy's current price target trend?
3 Wall Street analysts forecast a $13.83 price target for Iris Energy (IREN) this month, up 72.23% from its last price of $8.03. Compared to the last 3 and 12 months, the average price target increased by 85.55% and increased by 94.77%, respectively.
What are Iris Energy's analysts' financial forecasts?
Iris Energy's analysts financial forecasts for the fiscal year (Jun 2026) are as follows: average revenue is $623.25M (high $685.46M, low $488.13M), average EBITDA is $-71.61M (high $-56.085M, low $-78.758M), average net income is $103.03M (high $116.4M, low $73.99M), average SG&A $291.54M (high $320.64M, low $228.34M), and average EPS is $0.553 (high $0.625, low $0.397). IREN's analysts financial forecasts for the fiscal year (Jun 2027) are as follows: average revenue is $1.29B (high $1.41B, low $1.01B), average EBITDA is $-148M (high $-116M, low $-162M), average net income is $87.6M (high $98.96M, low $62.91M), average SG&A $601.29M (high $661.3M, low $470.93M), and average EPS is $0.47 (high $0.531, low $0.338).
Did the IREN's actual financial results beat the analysts' financial forecasts?
Based on Iris Energy's last annual report (Jun 2022), the company's revenue was $59.04M, which missed the average analysts forecast of $63.2M by -6.58%. Apple's EBITDA was $6.24M, missing the average prediction of $-4.23M by -247.46%. The company's net income was $-420M, missing the average estimation of $648.13M by -164.77%. Apple's SG&A was $33.7M, missing the average forecast of $1.38B by -97.56%. Lastly, the company's EPS was $-10.25, missing the average prediction of $3.53 by -390.78%. In terms of the last quarterly report (Dec 2022), Iris Energy's revenue was $8.62M, missing the average analysts' forecast of $13.32M by -35.28%. The company's EBITDA was $-26.742M, beating the average prediction of $-1.53M by 1647.98%. Iris Energy's net income was $-144M, beating the average estimation of $-32.844M by 338.30%. The company's SG&A was $10.55M, beating the average forecast of $6.23M by 69.43%. Lastly, the company's EPS was $-2.71, beating the average prediction of $-0.176 by 1437.76%