In the latest quarter, 15 analysts provided ratings for Iris Energy IREN, showcasing a mix of bullish and bearish perspectives.
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 | 9 | 6 | 0 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 4 | 4 | 0 | 0 | 0 |
| 2M Ago | 2 | 1 | 0 | 0 | 0 |
| 3M Ago | 2 | 1 | 0 | 0 | 0 |
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $16.53, a high estimate of $26.00, and a low estimate of $9.50. This upward trend is apparent, with the current average reflecting a 3.31% increase from the previous average price target of $16.00.
Decoding Analyst Ratings: A Detailed Look
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 |
|---|---|---|---|---|---|
| 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 |
| Brett Knoblauch | Cantor Fitzgerald | Lowers | Overweight | $20.00 | $23.00 |
| Mike Colonnese | HC Wainwright & Co. | Lowers | Buy | $13.00 | $15.00 |
| Joseph Vafi | Canaccord Genuity | Maintains | Buy | $15.00 | $15.00 |
| 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 |
Key Insights:
- Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Iris Energy. This information provides 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: Analysts gauge the dynamics of price targets, providing estimates for the future value of Iris Energy's stock. This comparison reveals trends in analysts' expectations over time.
Capture valuable insights into Iris Energy's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
Stay up to date on Iris Energy analyst ratings.
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Unveiling the Story Behind 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 Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Iris Energy displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 70.58%. This indicates a notable increase in the company's top-line earnings. When compared to others in the Information Technology sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Iris Energy's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive -46.37% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Iris Energy's ROE excels beyond industry benchmarks, reaching -3.05%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Iris Energy's ROA stands out, surpassing industry averages. With an impressive ROA of -2.88%, the company demonstrates effective utilization of assets and strong financial performance.
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 Basics of Analyst Ratings
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.
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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