IREN Should I Buy
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Based on the data provided, IREN is not a strong buy for a beginner, long-term investor at this moment. While the company shows potential for long-term growth, the recent financial performance, technical indicators, and cautious sentiment from Congress trading data suggest that it may be prudent to wait for a better entry point or further positive developments.
The MACD is negative and contracting, RSI is neutral at 46.794, and moving averages are converging, indicating no clear trend. Key support is at 37.893, and resistance is at 46.045. The stock is trading near its pivot level of 41.969, showing limited momentum.
Cantor Fitzgerald acquired additional shares worth $171.96 million, showing institutional confidence.
IREN was added to the MSCI USA Index, potentially increasing visibility and investment.
Significant revenue growth forecasted by analysts, with a target of $3.4B annualized run-rate revenue by CY26.
Congress members have been selling the stock, with 4 sale transactions totaling $5M-$10M in the last 90 days.
Gross margin dropped significantly by 73.98% YoY, and net income remains negative.
Analysts have lowered price targets, and the stock's valuation is considered relatively full by Goldman Sachs.
In Q2 2026, revenue increased by 59.02% YoY to $184.69M. However, net income remains negative at -$155.41M, despite a 610.01% YoY improvement. EPS improved to -0.52, but gross margin dropped significantly to 10.7%, down 73.98% YoY.
Analysts have mixed views. Cantor Fitzgerald and B. Riley maintain Buy ratings with price targets of $82 and $83, respectively, citing long-term growth potential. However, Macquarie and Goldman Sachs have lowered price targets, expressing concerns about valuation and near-term challenges.
