Goldman Sachs has initiated coverage on IREN Ltd (IREN), assigning the company a Neutral rating. This marks the firm's first assessment of IREN's investment potential, reflecting insights gained from its research on the business, industry dynamics, and growth prospects.
IREN Ltd operates as a vertically integrated data center business, utilizing renewable energy to support Bitcoin mining, artificial intelligence (AI) cloud services, and other power-dense computing applications. Headquartered in Sydney, Australia, the company has a market capitalization of $13.7 billion and a P/E ratio of 26.19, with earnings per share of $1.62. Its facilities are strategically located in Canal Flats, Mackenzie, Prince George, and Childress, optimizing operations for Bitcoin mining and AI services.
The current stock price stands at $35.82. Upcoming earnings reports are scheduled for May 12, 2026, with an estimated EPS of $0.05 and revenue of $294.3 million, following a strong performance in Q1 2026 where the company reported an EPS of $1.08, significantly above expectations.
Analyst ratings can provide valuable perspectives, yet they are based on assumptions that may not always materialize. As of December 1, 2025, the consensus among analysts is a Buy, with 5 Strong Buy, 10 Buy, 3 Hold, 2 Sell, and no Strong Sell ratings. The recent move by Goldman Sachs underscores the evolving views of analysts as they adjust their assessments in response to new information.