Iris Energy Ltd. (NASDAQ:IREN) shares traded higher on Thursday ahead of the company's upcoming earnings report, scheduled for release this afternoon.
IREN shares are at critical resistance. See the market dynamics here.
What To Know: The move reflects investor positioning before the results, with analysts expecting earnings per share of 20 cents. Traders are watching closely to see if the company can deliver a beat after missing expectations by three cents in the previous quarter, a shortfall that led to a modest decline in the stock the following day.
The stock has been on a strong run this year, up more than 160% over the past 52 weeks. Revenue growth has been a key driver, with the company reporting a 168% year-over-year increase as of March 2025. Iris Energy also maintains stronger margins than many of its peers and has kept its debt-to-equity ratio low at 0.23, signaling a conservative approach to financing. Despite these positives, analysts maintain an average one-year price target of $19, which implies potential downside from current levels.
Compared to industry peers, Iris Energy leads in revenue growth and gross profit but trails in return on equity. Clearwater Analytics and MARA Holdings have higher upside targets from analysts, while D-Wave Quantum carries a more cautious outlook. For Iris, the upcoming earnings release will be critical in determining whether the company can sustain its momentum or if expectations have outpaced near-term fundamentals.
The stock is moving as investors anticipate the report and weigh whether earnings and guidance will confirm the growth story or prompt another pullback.
IREN Price Action: Iris shares closed up 3.06% at $23.04 at publication on Thursday, according to Benzinga Pro.
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