Citigroup Issues Positive Forecast for Sandisk (NASDAQ:SNDK) Stock Price

Key Points

• Citigroup raised its price target on Sandisk to $2,025 from $1,300 and kept a Buy rating, citing confidence in the company’s outlook and implying about 55% upside from the previous close.
• Wall Street sentiment on Sandisk remains broadly positive, with several firms lifting targets as well; the stock now carries an average analyst rating of Moderate Buy and an average price target of $1,157.14.
• Sandisk recently posted strong quarterly results, beating estimates with $23.41 EPS and 251% revenue growth year over year, though the stock was still down 1.8% in Tuesday trading amid broader weakness in the AI memory-chip trade.

Sandisk (NASDAQ:SNDK - Get Free Report) had its price target upped by stock analysts at Citigroup from $1,300.00 to $2,025.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the data storage provider's stock. Citigroup's price objective would suggest a potential upside of 54.67% from the stock's previous close.

A number of other research firms have also issued reports on SNDK. Melius Research set a $2,350.00 price target on shares of Sandisk in a research report on Monday. The Goldman Sachs Group reiterated a "buy" rating and set a $1,200.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Evercore reissued an "outperform" rating and set a $1,400.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Sanford C. Bernstein lifted their target price on Sandisk from $1,250.00 to $1,700.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. Finally, Barclays boosted their price objective on Sandisk from $750.00 to $1,200.00 and gave the stock an "equal weight" rating in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,157.14.

Sandisk Trading Down 1.8%

SNDK traded down $23.80 during trading hours on Tuesday, hitting $1,309.21. The company's stock had a trading volume of 3,508,522 shares, compared to its average volume of 18,157,703. The firm has a market capitalization of $193.88 billion, a PE ratio of 45.19 and a beta of 4.82. Sandisk has a fifty-two week low of $35.79 and a fifty-two week high of $1,600.00. The company has a 50-day simple moving average of $914.47 and a 200 day simple moving average of $563.86.

Sandisk (NASDAQ:SNDK - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, beating analysts' consensus estimates of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The business had revenue of $5.95 billion for the quarter. During the same quarter in the prior year, the firm earned ($0.30) earnings per share. Sandisk's revenue for the quarter was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Research analysts expect that Sandisk will post 63.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Necip Sayiner sold 579 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the transaction, the director owned 2,900 shares in the company, valued at $4,359,019. This represents a 16.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Michael Pokorny sold 2,446 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the transaction, the chief accounting officer directly owned 22,375 shares in the company, valued at $31,910,777.50. The trade was a 9.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 6,525 shares of company stock valued at $6,555,092 over the last ninety days. Corporate insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On Sandisk

A number of institutional investors have recently made changes to their positions in SNDK. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Sandisk during the third quarter valued at about $1,136,000. Y Intercept Hong Kong Ltd bought a new position in shares of Sandisk in the third quarter valued at about $7,046,000. Sage Rhino Capital LLC bought a new position in Sandisk in the 3rd quarter valued at $587,000. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Sandisk in the 3rd quarter valued at about $514,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Sandisk in the third quarter valued at approximately $3,652,000.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Citi raised its price target on Sandisk to $2,025 from $1,300 and reiterated a Buy rating, citing strong AI data center demand and support from the company’s $6 billion buyback program, which signals confidence in future earnings and capital returns. Sandisk Stock Can Rise Another 52%, Says Citi. Why Investors Should Buy.
• Positive Sentiment: Melius Research also lifted its Sandisk price target, raising it from $1,500 to a Street-high $2,350 while keeping a Buy rating, reinforcing the view that Wall Street sees more upside in the stock. Wall Street sets Sandisk stock price target for the next 12 months
• Positive Sentiment: Investor interest in AI memory remains strong, with commentary highlighting Sandisk as a beneficiary of rising demand tied to AI infrastructure and data storage needs. AI Isn't Just GPUs and CPUs: Here's the AI Trade No One Is Talking About
• Neutral Sentiment: Sandisk announced upcoming presentations at several investor conferences, including JPMorgan, Bernstein, and Mizuho events, which could provide more detail on strategy and demand trends but are not immediate business catalysts. Sandisk Announces Participation in Investor Conferences
• Negative Sentiment: Despite the upbeat analyst calls, Sandisk shares were also pressured by a pre-market selloff in memory-chip stocks after warnings that AI-driven memory demand is outpacing production capacity growth, which raised concerns about industry supply-demand imbalances and near-term volatility. SanDisk, Seagate, Micron Decline In Tuesday Pre-Market: What's Going On?
• Negative Sentiment: Broader weakness in the AI memory chip trade also weighed on Sandisk, with reports noting declines alongside peers such as Micron, Seagate, and Western Digital as investors rotated out of the group. MU, STX, WDC, SNDK stocks sink as Samsung strike ripples rattle red-hot AI memory chip trade

About Sandisk

SanDisk Corporation offers flash storage solutions. The Company designs, develops and manufactures data storage solutions in a range of form factors using flash memory, controller, firmware and software technologies. The Company operates through flash memory storage products segment. Its solutions include a range of solid state drives (SSD), embedded products, removable cards, universal serial bus (USB), drives, wireless media drives, digital media players, and wafers and components. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.