Shares of Iren Limited (IREN) gained in after-hours trading despite reporting weak Q3 results. The stock was lifted by news of a multibillion‑dollar NVIDIA (NVDA) partnership and a deal to acquire Spain‑based data center developer Ingenostrum. Revenue came in at $144.8 million, which missed the analysts’ expectations of $219.69 million by a wide margin. Also, Iren reported a net loss of $247.8 million compared with $155.4 million in Q2.
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New trading tool for IREN bulls/bearsIs IREN a Good Stock to Buy?
On Wall Street, IREN stock has a Strong Buy consensus rating from analysts. This is based on six Buys and one Hold issued over the past three months. The average IREN price target of $78.43 implies about 39% upside in the months ahead. However, it’s worth noting that estimates will likely change following today’s earnings report.
