Sandisk (NASDAQ:SNDK) Price Target Raised to $1,000.00

Key Points

• Royal Bank of Canada raised its price target on Sandisk to $1,000 (from $650) but kept a "sector perform" rating, a target that implies about a 9% downside from the current share price.
• Sandisk reported a blowout quarter with $5.95B revenue (+251% YoY) and $23.41 EPS, gave strong Q4 EPS guidance (30–33), disclosed large multi‑year contracts, and authorized a $6B buyback while running a near‑zero debt position.
• Wall Street is broadly bullish—consensus target ≈ $995.81 with multiple buy/outperform calls and higher individual targets—however the stock is highly volatile and some warn valuation and profit‑taking risks after a parabolic run.

Sandisk (NASDAQ:SNDK - Get Free Report) had its target price boosted by analysts at Royal Bank Of Canada from $650.00 to $1,000.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "sector perform" rating on the data storage provider's stock. Royal Bank Of Canada's target price points to a potential downside of 9.17% from the company's current price.

A number of other research firms have also recently issued reports on SNDK. Jefferies Financial Group reiterated a "buy" rating and set a $1,400.00 price objective on shares of Sandisk in a research report on Friday. 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. Melius Research began coverage on shares of Sandisk in a research report on Monday. They set a "buy" rating for the company. Sanford C. Bernstein set a $1,250.00 price objective on shares of Sandisk and gave the stock an "outperform" rating in a research report on Thursday, April 9th. Finally, Wedbush upped their price objective on shares of Sandisk from $740.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $995.81.

Sandisk Price Performance

Shares of Sandisk stock traded up $4.44 on Friday, reaching $1,100.95. 14,565,695 shares of the stock were exchanged, compared to its average volume of 18,468,617. The firm's 50 day moving average is $753.17 and its 200-day moving average is $469.58. The firm has a market cap of $162.50 billion, a PE ratio of -144.67 and a beta of 5.04. Sandisk has a one year low of $33.05 and a one year high of $1,153.43. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.92 and a current ratio of 3.11.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $14.17 by $9.24. The business had revenue of $5.95 billion during the quarter. Sandisk had a negative net margin of 11.66% and a positive return on equity of 10.11%. Sandisk's revenue for the quarter was up 251.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, analysts anticipate that Sandisk will post 47.19 EPS for the current fiscal year.

Insider Transactions at Sandisk

In other Sandisk news, Director Miyuki Suzuki sold 3,500 shares of the company's stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total value of $2,196,355.00. Following the completion of the transaction, the director directly owned 9,907 shares in the company, valued at approximately $6,216,939.71. This represents a 26.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On Sandisk

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. bought a new stake in shares of Sandisk in the 2nd quarter valued at $317,000. Farther Finance Advisors LLC bought a new stake in shares of Sandisk in the 3rd quarter valued at $108,000. Perigon Wealth Management LLC bought a new stake in shares of Sandisk in the 3rd quarter valued at $338,000. Ethic Inc. bought a new stake in shares of Sandisk in the 3rd quarter valued at $744,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Sandisk in the 3rd quarter valued at $4,047,000.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Blowout Q3 results — revenue $5.95B (+251% YoY) and non‑GAAP EPS $23.41, well above consensus; management guided Q4 revenue $7.75–8.25B and EPS $30–33, signaling continued AI/datacenter demand. SanDisk Earnings Crush Estimates With 251% Revenue Surge
• Positive Sentiment: Strategic shift to multi‑year, contract-backed supply: management disclosed large long‑term agreements (improving revenue visibility and reducing cyclicality), which underpin the stronger guidance and analysts’ optimism. Sandisk has thumping quarter on AI boom, secures long-term contracts and unveils big buyback
• Positive Sentiment: Capital returns & balance sheet strength — company authorized a $6B buyback and is running with a zero‑debt position and strong cash flow, giving flexibility to support EPS. Sandisk Reports Fiscal Third Quarter 2026 Financial Results
• Positive Sentiment: Wall Street reaction: several firms raised targets (Cantor Fitzgerald to $1,800, Wells Fargo to $1,250), reflecting upside to consensus and reinforcing buy-side interest. Benzinga: Analyst Coverage & Price Target Changes
• Neutral Sentiment: Sector/macro tailwinds — broad tech/Nasdaq strength and AI spending momentum provide an industry backdrop supporting Sandisk’s demand outlook. Nasdaq Composite Takes Off as Tech Bulls Retake Control
• Negative Sentiment: Sell‑the‑news and profit‑taking — despite the fundamentals, SNDK pulled back in after‑hours/pre‑market trading as investors locked gains after a parabolic run; volatility remains high. Yahoo Finance: Sandisk stock falls despite strong earnings report
• Negative Sentiment: Valuation risk / crowding — after an extraordinary multi‑thousand percent run in 2026, some outlets warn SNDK may be extended and vulnerable to a notable pullback if momentum fades. SanDisk Looks Overvalued, Stock Set for 32% Drop

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.

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