What caused IREN stock to jump on Monday?

IREN stock surged due to an increased price target from JPMorgan and strong first-quarter fiscal year 2026 financial results.

What is JPMorgan's new price target for IREN?

JPMorgan has set a new price target of $39 for IREN stock.

How did IREN perform financially in Q1 FY26?

IREN reported a net income of $384.6 million and a 355% increase in revenue for Q1 FY26.

Home / Business and Economy / IREN Stock Soars on Analyst Upgrade

IREN Stock Soars on Analyst Upgrade

25 Nov

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Summary

IREN stock surged 14.74 percent on Monday.
JPMorgan raised its price target for IREN to $39.
Company reported a net income of $384.6 million in Q1 FY26.

IREN Ltd. shares climbed 14.74 percent on Monday, concluding the trading day at $48.49. This upward movement followed a three-day downturn and was significantly influenced by an investment firm's revised price target. JPMorgan adjusted its valuation for IREN stock, setting a new price target of $39.

This revision by JPMorgan underscores a broader optimism regarding the high-performance computing sector, as the firm also upgraded similar companies. Earlier in the month, Canaccord Genuity had also issued a favorable price target revision for IREN, indicating sustained positive analyst sentiment.

Financially, IREN Ltd. demonstrated robust performance in the first quarter of fiscal year 2026. The company reported a net income of $384.6 million, a significant turnaround from a net loss of $51.7 million in the same period last year. Revenue also saw a dramatic increase of 355 percent year-over-year.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.