Goldman Sachs initiated coverage of Iren (IREN) with a Neutral rating and $39 price target The firm says Iren is an artificial intelligence cloud that is in “hyper growth,” scaling from $501M revenue in fiscal 2025 to $3.8B in 2028. However, the stock’s valuation is “relatively full,” the analyst tells investors in a research note. Goldman believes Iren should deliver outsized growth over the next several years as the Microsoft deal scales, but it views the company’s growth beyond that as more uncertain.
Claim 55% Off TipRanks
Forget margin or options. Here's how the pros trade IRENPublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IREN:
- Mixed options sentiment in Iris Energy with shares down 4.13%
- Crypto Currents: Hut 8 signs $7B AI deal with Anthropic, Fluidstack
- IREN Stock Sinks 12% in One Day, Yet These Two Analysts Say Buy — Here’s Why
- CRWV, NBIS, IREN — Oracle’s Q2 Earnings Selloff Hit Neocloud Stocks
- ChowChow Cloud Stock Craters 70% from Sept IPO in Mysterious Sell-Off