Goldman Sachs cuts IREN price target to $30 from $50
Goldman Sachs lowered its 12‑month price target on IREN Ltd. to $30, down from $50, while keeping a Neutral rating. The cut follows IREN's first‑quarter revenue of $228 million, a 5% year‑over‑year decline, and adjusted EBITDA of $66 million, down 28%. Goldman cited compression in AI‑related multiples and heightened execution risks for data‑center and neocloud projects. The bank also revised its forward‑looking EBITDA and capex forecasts, trimming 2027 capital spending and narrowing the funding gap.
Why it matters
The reduced target implies a 66.4% upside from Goldman’s reference price, limiting potential upside for investors. The lower multiple and revised forecasts suggest tighter valuation and financing concerns for IREN going forward.
Key facts
- 1Goldman Sachs cut its 12‑month price target on IREN to $30 from $50. finance.yahoo.com
- 2IREN reported fiscal first‑quarter revenue of $228 million, down 5% from a year earlier. finance.yahoo.com
- 3Adjusted EBITDA for the quarter was $66 million, down 28% YoY. finance.yahoo.com
- 4AI Cloud Services generated $200 million of revenue, beating Goldman’s $167 million estimate. finance.yahoo.com
- 5Bitcoin mining revenue was $28 million, an 88% decline from the prior year. finance.yahoo.com
- 6Goldman’s F2027 adjusted EBITDA forecast is $1.743 billion, below the Street’s $1.816 billion estimate. finance.yahoo.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.