Bitcoin Miner IREN Stock Rips 20% Following Q4 Earnings, Analysts Bump Price Targets
Synopsis
Analysts cited acceleration in progress across its AI portfolio with continued benefits on the mining side of its business.
Bitcoin mining company IREN’s (IREN) fiscal fourth-quarter (Q4) earnings on Friday sent the company’s stock soaring, and analysts turned even more bullish.
IREN’s shares surged over 20% in Friday’s opening trade. Stocktwits data showed the retail sentiment around the company was in the ‘extremely bullish’ territory.
According to data from The Fly, analysts at multiple firms have hiked their price targets for IREN stock, citing acceleration in progress across its artificial intelligence (AI) portfolio, with continued benefits on the mining side of its business.
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