• H.C. Wainwright upgraded NASDAQ:IREN from Sell to Buy, signaling confidence in its AI-driven growth and strategic partnerships.
• Despite a recent price decline, IREN targets $3.4 billion in annualized AI cloud revenue by 2026, backed by significant partnerships like the one with Microsoft.
• IREN's financial metrics, including a forward price-to-sales ratio below 5 and a fiscal year 2028 price-to-earnings ratio of 16, highlight its attractive valuation compared to peers.

IREN Limited (NASDAQ:IREN) is a company that has recently caught the attention of investors. On January 13, 2026, H.C. Wainwright upgraded IREN's stock from Sell to Buy, with the stock price at approximately $50.49. This upgrade reflects growing confidence in IREN's potential, especially given its focus on AI-driven growth and strategic partnerships.

Despite a recent 17% decline in its stock price, IREN remains a 'Strong Buy'. The company is targeting $3.4 billion in annualized AI cloud revenue by the end of 2026. This ambitious goal is supported by multi-year contracts, including a significant partnership with Microsoft, as highlighted by Seeking Alpha. Such collaborations are expected to drive substantial growth.

IREN's financial metrics further bolster its attractiveness. The company trades at a forward price-to-sales ratio below 5 and a fiscal year 2028 price-to-earnings ratio of 16. These figures suggest that IREN is valued attractively compared to its peers, making it an appealing option for investors looking for growth opportunities in the tech sector.

Currently, IREN's stock is priced at $50.59, reflecting a slight increase of 0.26, or 0.52% in percentage terms. The stock has fluctuated between $49.82 and $51.84 today, indicating some volatility. Over the past year, it has seen a high of $76.87 and a low of $5.13, showcasing its dynamic nature in the market.

With a market capitalization of approximately $14.34 billion and a trading volume of 18.47 million shares, IREN is a significant player in the tech industry. Its strong fundamentals, combined with strategic partnerships and attractive valuation, make it a compelling choice for investors seeking exposure to AI-driven growth.