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IREN Limited IREN shares are up during Tuesday’s premarket session. On Monday, the company announced a significant increase in its annualized run-rate revenue forecast.
This comes after securing new multi-year cloud services contracts valued at $2.8 billion with leading AI developers such as Microsoft MSFT, NVIDIA NVDA, and Perplexity, reflecting strong demand in the AI cloud infrastructure market.
Raised AI Cloud Revenue Forecast After New Contracts
IREN has raised its year-end AI Cloud annualized run-rate revenue forecast from $3.7 billion to over $4 billion, with approximately 85% of this now under contract.
The new contracts include customer prepayments covering around 45% of GPU capital costs, which could lower funding needs and solidify IREN’s position in the market.
IREN Technical Outlook: Below Key Moving Averages
The stock is currently trading about 2.6% below its 20-day simple moving average (SMA) of $43.24, and 19.5% below its 50-day SMA of $52.30.
The moving average convergence divergence (MACD) is below its signal line, indicating that upside momentum is fading unless it can reclaim that baseline, suggesting traders should watch for potential shifts in momentum.
IREN Earnings Date And Analyst Estimates: What To Expect
IREN is slated to provide its next financial update on August 27, 2026 (estimated).
- EPS Estimate: Loss of 38 cents (Down from 66 cents)
- Revenue Estimate: $165.16 million (Down from $187.30 million)
- Valuation: P/E of 52.2x (Indicates premium valuation)
Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $79.11. Recent analyst moves include:
- Macquarie: Outperform (Maintains Target to $90.00) (July 15)
- Freedom Broker: Upgraded to Buy (Target $58.00) (July 6)
- Jefferies: Initiated with Buy (Target $79.00) (June 18)
How IREN Ranks On Momentum And Valuation
Below is the Benzinga Edge scorecard for IREN, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: Bullish (Score: 85.12) — Stock is outperforming the broader market.
- Value: Weak (Score: 18.99) — Trading at a steep premium relative to peers.
The Verdict: IREN’s Benzinga Edge signal reveals a mixed profile, with weak value indicators suggesting a premium valuation, while momentum remains strong. This could indicate a cautious approach for investors as the stock navigates its current market dynamics.
IREN Price Action: Iren shares were up 3.46% at $41.59 during premarket trading on Tuesday, according to Benzinga Pro data.
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This article What’s Going on With Iren Stock on Tuesday? originally appeared on Benzinga.com.
