IREN Limited (NASDAQ:IREN) Sees Upgrade and Promising Growth Outlook

Core Viewpoint - IREN Limited has garnered investor interest following an upgrade from H.C. Wainwright, reflecting confidence in its AI-driven growth and strategic partnerships [1][6] Financial Performance - IREN's stock price is currently at $50.59, showing a slight increase of 0.52% today, with fluctuations between $49.82 and $51.84 [4] - The company has experienced a significant price range over the past year, with a high of $76.87 and a low of $5.13, indicating market volatility [4] - IREN has a market capitalization of approximately $14.34 billion and a trading volume of 18.47 million shares, positioning it as a notable player in the tech industry [5] Growth Projections - IREN aims for $3.4 billion in annualized AI cloud revenue by the end of 2026, supported by multi-year contracts and a partnership with Microsoft [2][6] - Despite a recent 17% decline in stock price, IREN is still rated as a 'Strong Buy' due to its growth potential [2] Valuation Metrics - The company trades at a forward price-to-sales ratio below 5 and a fiscal year 2028 price-to-earnings ratio of 16, suggesting an attractive valuation compared to peers [3][6]