​Iron Mountain Incorporated (IRM) Posts Q1 Results, Data Center Revenue Up 47% Year-Over-Year

​Recently, connected May 1, Truist expert Tobey Sommer raised the firm’s terms people for Iron Mountain Incorporated (NYSE:IRM) from $130 to $140 and maintained a Buy standing connected the shares. The standing follows the company’s fiscal Q1 2026 earnings, released connected April 30. During the quarter, the institution posted $1.94 cardinal successful revenue, up 21.58% year-over-year and up of expectations by $74.59 million. Moreover, the GAAP EPS of $0.48 besides topped the expectations by $0.06.

​Notably, the Data Center gross for the 4th grew 47% year-over-year to $255 million, driven by an summation successful leasing, pricing, and powerfulness ramping. Truist noted that the information halfway lease inclination is expected to thrust the banal terms higher owed to a larger full addressable market.

​The institution leased 22 megawatts successful Q1 and an further 10 megawatts successful April. Management expects to transcend the guidance of much than 100 megawatts.

While we admit the imaginable of IRM arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you're looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.

READ NEXT: 10 Best Stocks to Buy While the Market Is Down and 8 Best Quantum Computing Stocks to Buy and Hold for 10 Years. 

Disclosure: None. Insider Monkey focuses connected uncovering the champion concern ideas of hedge funds and insiders. Please subscribe to our escaped regular e-newsletter to get the latest concern ideas from hedge funds’ capitalist letters by entering your email code below.