IREN Price Prediction Next Week
IREN Stock Price Prediction and Recommendation
News Analysis:
- Grid Connection Agreement: IREN has secured a 600MW grid connection for its Sweetwater 2 data center in Texas, part of a larger 2GW project. This agreement strengthens IREN's competitive position in scalable data center infrastructure, reducing development risks and solidifying its leadership in the sector.
- Bernstein Analyst Report: Bernstein maintains an Outperform rating on IREN, with a price target of $20, implying a 174.9% upside from the current price of $7.22. The report highlights IREN's strategic shift towards AI and high-performance computing (HPC) as a key driver for growth.
Technical Analysis:
- RSI: IREN's RSI (14) is 38.68, indicating the stock is in the oversold zone, suggesting a potential buy signal.
- MACD: The MACD line is slightly below the signal line (-0.95), but the bullish divergence in MACD histogram (-1.04) indicates potential upward momentum.
- Bollinger Bands: The stock is trading near the lower Bollinger Band (5.15), suggesting it may be undervalued.
- Fibonacci Levels: Key support levels are at $6.33 (S1) and $5.93 (S3), while resistance levels are at $7.37 (R1) and $8.02 (R3).
Price Prediction:
Based on the positive news and bullish technical indicators, IREN is expected to rebound. The target price for the next trading week is $8.20.
Recommendation:
Buy IREN at the current price of $7.625, with a target of $8.20. The stock is undervalued, and the positive news coupled with bullish technical signals suggests a strong upside potential.
IREN Similar Chart Price Prediction
The price of IREN is predicted to go up 57.89%, based on the high correlation periods with IDN. The similarity of these two price pattern on the periods is 99.1%.
IREN
IDN
Up: 57.89%Similarity: 99.1%
IREN Revenue Forecast
IREN EPS Forecast
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IREN Analyst's Forecast
Reginald Smith
JP Morgan
Hold → Buy
2025-03-13
Price Target
$15 → $12
Upside
+77.78%
JPMorgan analyst Reginald Smith upgraded IREN to Overweight from Neutral with a price target of $12, down from $15. The firm updated bitcoin miner price targets and models to reflect the Q4 results and changes in bitcoin price and the network hash rate. JPMorgan names IREN its top pick citing the company's "strong" mining operations and high performance computing "optionality." The shares have "been overly punished" year-to-date, and offers 70% upside at current levels, which could prove conservative if IREN announces an HPC deal with a name-brand tenant, the analyst tells investors in a research note.
Joseph Vafi
Canaccord Genuity
Strong Buy
2025-02-13
Price Target
$17 → $23
Upside
+75.84%
Reginald Smith
JP Morgan
Buy → Hold
2024-12-10
Price Target
$9.5 → $15
Upside
+12.28%
