Across the recent three months, 9 analysts have shared their insights on Iris Energy IREN, expressing a variety of opinions spanning from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 4 | 5 | 0 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 2 | 1 | 0 | 0 | 0 |
| 2M Ago | 2 | 1 | 0 | 0 | 0 |
| 3M Ago | 0 | 2 | 0 | 0 | 0 |
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $17.5, with a high estimate of $26.00 and a low estimate of $9.50. Surpassing the previous average price target of $14.07, the current average has increased by 24.38%.
Analyzing Analyst Ratings: A Detailed Breakdown
A clear picture of Iris Energy's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Reginald Smith | JP Morgan | Lowers | Overweight | $9.50 | $11.00 |
| Brett Knoblauch | Cantor Fitzgerald | Maintains | Overweight | $23.00 | $23.00 |
| Joseph Vafi | Canaccord Genuity | Raises | Buy | $15.00 | $12.00 |
| Mike Colonnese | HC Wainwright & Co. | Maintains | Buy | $15.00 | $15.00 |
| Lucas Pipes | B. Riley Securities | Lowers | Buy | $17.00 | $18.00 |
| Gautam Chhugani | Bernstein | Announces | Outperform | $26.00 | - |
| Lucas Pipes | B. Riley Securities | Raises | Buy | $18.00 | $9.50 |
| Brett Knoblauch | Cantor Fitzgerald | Announces | Overweight | $23.00 | - |
| Reginald Smith | JP Morgan | Raises | Overweight | $11.00 | $10.00 |
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: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Iris Energy compared to the broader market.
- Price Targets: Analysts predict movements in price targets, offering estimates for Iris Energy's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Iris Energy's market position. Stay informed and make well-informed decisions with our Ratings Table.
Stay up to date on Iris Energy analyst ratings.
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Get to Know Iris Energy Better
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.
Financial Milestones: Iris Energy's Journey
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Positive Revenue Trend: Examining Iris Energy's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 376.3% as of 31 March, 2024, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 16.01%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Iris Energy's ROE stands out, surpassing industry averages. With an impressive ROE of 1.63%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Iris Energy's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 1.51%, the company showcases efficient use of assets and strong financial health.
Debt Management: Iris Energy's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.0.
The Significance of Analyst Ratings Explained
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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