Wall Street sets IREN stock price for the next 12 months

By Finbold | Created at 2026-09-03 17:10:21 | Updated at 2026-09-03 17:49:54 40 minutes ago

As IREN Ltd. (NASDAQ: IREN) stock surged by more than 14% over the past two days, driven by strong institutional demand for its Artificial Intelligence (AI) cloud infrastructure, Gautam Chhugani, an analyst at Bernstein, expects it to rally towards a new all-time high (ATH) over the next 12 months.

Chhugani reaffirmed a ‘Buy’ rating on IREN stock, according to a note sent to clients, which Finbold viewed on September 3, 2026. He maintained the firm’s 12-month price target for IREN at $100.

With IREN’s price hovering at $41.21 on Thursday, this analyst signals a potential 142.66% upside. Chhugani reiterated a bullish outlook because the company’s capital-intensive AI cloud infrastructure offers vastly superior unit economics over traditional colocation leasing.

Bernstein noted that by IREN capturing $10 million to $20 million in revenue per megawatt rather than standard $2 million to $2.5 million colocation returns, it is uniquely positioned to monetize the current compute scarcity.

Furthermore, Chhugani highlighted multi-billion-dollar deals with major players like Microsoft Corp. (NASDAQ: MSFT) and Nvidia Corp. (NASDAQ: NVDA), which validates this strategy. As such, he believes that these fundamentals provide strong earnings visibility, thereby driving contracted annualized AI cloud revenue toward $4 billion.

Is IREN a good stock to buy?

Following Chhugani’s bullish forecast, 10 Wall Street analysts surveyed by TipRanks over the past three months have issued an average ‘Moderate Buy’ rating.

As of press time, these analysts had set an average 12-month price target of $75.67, suggesting a possible 83.62% uptrend. Notably, the lowest IREN price forecast for the next 12 months is $46.

These analysts have signaled bullish sentiment for this company as it successfully shifted its focus from Bitcoin (BTC) mining to the AI industry.

IREN price performance

Year-to-date (YTD), IREN’s price has fallen 3.5%, thereby pushing the company’s market capitalization to approximately $15.6 billion at the time of publication.

Consequently, if this company continues to benefit from the AI boom, the analysts’ bullish targets could be reached.

Featured image via Shutterstock

Best Crypto Exchange for Intermediate Traders and Investors

Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.
0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
Copy top-performing traders in real time, automatically.
eToro USA is registered with FINRA for securities trading.

30+ million Users worldwide

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Finbold Career