Is IREN Stock a Buy Ahead of It’s Thursday Earnings Report?
TLDR
- IREN stock fell 4.9% to $39.81 on Monday, with trading volume down 27% from average
- The company reports full-year FY26 earnings after market close on Thursday, August 27
- IREN signed $2.8B in new AI cloud deals in July, raising its 2026 annual revenue target above $4B
- New contracts require customers to pay 45% of chip equipment costs upfront
- Wall Street holds a Moderate Buy consensus with an average price target of $77.89
IREN stock dropped 4.9% to $39.81 on Monday, closing the prior session at $41.88. Trading volume came in at around 31.2 million, about 27% below the daily average. The move comes just days before the company’s full-year FY26 earnings release, due after market close on Thursday, August 27.
The company has a market cap of $14.23 billion and a beta of 4.29, meaning it tends to swing hard in both directions.
$2.8B in AI Cloud Deals Push Revenue Target Past $4B
In July, IREN signed $2.8 billion worth of multi-year AI cloud contracts. That news prompted management to raise its 2026 annual revenue target to more than $4 billion. The new deals also require customers to pay roughly 45% of chip equipment costs upfront, giving IREN a cash boost to fund ongoing site expansion.
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