Benzinga·2025-12-23 09:34Core Insights - IREN Ltd., an Australian Bitcoin miner turned neocloud company, is currently undervalued following a significant stock pullback, despite having a strong client base including Microsoft, Together AI, and Fluidstack [1][3] Valuation Metrics - The company's Value score in Benzinga's Edge Stock Rankings has increased from 29.14 to 43.37 in just one week, even as the stock price has decreased by 13.3% over the past month [3] - IREN's stock is trading 45.31% below its 52-week high of $76.87, despite securing a $9.7 billion deal with Microsoft last month and indicating more large contracts are forthcoming [3] Financial Projections - The company projects an annual recurring revenue of $3.4 billion by the end of 2026, a significant increase from $501 million in fiscal year 2025, indicating strong growth potential in its AI infrastructure business [4] Historical Context - The stock is currently trading at 24 times earnings, which is considered undervalued compared to its historical averages [5] - IREN scores high on Momentum in Benzinga's Edge Stock Rankings, suggesting a favorable long-term price trend [5]