IREN Stock Falls 6% But Analysts Say Buy the Dip
TLDR
- IREN stock fell around 6% in premarket trading after adjusted EBITDA of $19.2M missed the $34.9M Wall Street estimate
- Total Q4 revenue came in at $137.2M, below the $157.14M forecast, but AI cloud revenue jumped 110% sequentially to $70.5M
- The company’s $4 billion ARR target for fiscal 2026 is now fully contracted, up from $3.4B as of July
- IREN signed a new multi-year AI cloud deal with an undisclosed frontier AI lab and raised $6.5B in GPU financing over three months
- H.C. Wainwright kept its Buy rating and $90 price target, calling the post-earnings dip a buying opportunity
IREN stock dropped around 6% to $38.20 in premarket trading on Friday after the company’s fiscal Q4 results showed an adjusted EBITDA miss. The stock was trading at $40.53 at Thursday’s close, down 47% from its 52-week high of $76.87, though still up 76% over the past year.
The company posted Q4 revenue of $137.2 million, missing Wall Street’s $157.14M estimate. Adjusted EBITDA came in at $19.2 million, well below the Street’s $34.9 million expectation.
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