IREN’s stock has been volatile since a bull run ended in October. H.C. Wainwright downgraded the stock to “Sell,” raising the target price to $45. Analysts are concerned about valuation risk due to the company’s exposure to Bitcoin and AI infrastructure potential. IREN has delivered impressive returns in 2025 but faces overvaluation concerns with high P/E and P/S ratios. The company beat revenue and profit estimates for 2025, with optimistic guidance for 2026. Despite recent pessimism, most analysts still have a “Strong Buy” rating on the stock, with a mean target price of $65.30.

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