Iron Mountain stock falls 2.57 percent as growth holds up

Iron Mountain stock was trading at USD 115.09 on the NYSE on September 23, 2026, down USD 3.04 or 2.57 percent from the previous close. The move came as MarketBeat reported on September 22, 2026, that Rothschild & Co Redburn upgraded the company to Strong Buy.

Revenue growth stays measurable

Iron Mountain generated USD 2.03 billion in revenue in Q2 2026, an increase of 18.5 percent from the same quarter a year earlier, according to Zacks. Revenue also exceeded the consensus estimate of USD 1.97 billion by USD 0.06 billion, giving investors a concrete measure of the quarter's performance.

The earnings mix points to a changing business. Storage rental revenue rose 12.3 percent year over year to USD 1.13 billion, while service revenue increased 27.4 percent to USD 894.5 million in Q2 2026, Zacks reported.

Data centers add a second engine

Global Data Center revenue reached USD 262.9 million in Q2 2026, compared with USD 189.4 million a year earlier. That represents growth of 38.8 percent and gives the data-center business a larger role alongside Iron Mountain's records-storage operations.

Adjusted AFFO per share rose 16.1 percent year over year to USD 1.44 and exceeded the Zacks consensus estimate by 2.9 percent. Iron Mountain also raised full-year 2026 AFFO-per-share guidance to USD 5.87-5.93 from USD 5.79-5.86, according to Zacks.

Analyst target exceeds market price

The analyst upgrade adds a valuation reference to the operating figures. MarketBeat reported a consensus price target of USD 139.83 and a Moderate Buy rating, compared with the USD 115.09 NYSE price on September 23, 2026. The target is USD 24.74 above that price, while the stock remains within its USD 77.77 to USD 134.68 52-week range.

Iron Mountain stock stays below its high

Iron Mountain stock had a market capitalization of USD 34,242,115,536 as of September 23, 2026. Its latest price of USD 115.09 was 14.57 percent below the 52-week high of USD 134.68, leaving the operating growth figures and the distance to the yearly high as the key reference points for the stock.