Across the recent three months, 15 analysts have shared their insights on Iris Energy IREN, expressing a variety of opinions spanning from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments 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 | 1 | 1 | 0 | 0 | 0 |
| 2M Ago | 4 | 3 | 0 | 0 | 0 |
| 3M Ago | 3 | 2 | 0 | 0 | 0 |
Analysts have recently evaluated Iris Energy and provided 12-month price targets. The average target is $16.27, accompanied by a high estimate of $26.00 and a low estimate of $9.50. Experiencing a 1.39% decline, the current average is now lower than the previous average price target of $16.50.
Investigating Analyst Ratings: An Elaborate Study
The standing of Iris Energy among financial experts becomes clear 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 |
|---|---|---|---|---|---|
| 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 |
| 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 | - |
Key Insights:
- Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Iris Energy. This insight gives a snapshot of analysts' perspectives on the current state of the company.
- Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Iris Energy compared to the broader market.
- Price Targets: Gaining insights, analysts provide estimates for the future value of Iris Energy's stock. This comparison reveals trends in analysts' expectations over time.
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.
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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.
Key Indicators: Iris Energy's Financial Health
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 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): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of -3.05%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of -2.88%, the company showcases effective utilization of assets.
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
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
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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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