Sandisk (NASDAQ:SNDK) Price Target Raised to $140.00

Key Points

• The Goldman Sachs Group raised Sandisk's price target significantly from $55.00 to $140.00, maintaining a "buy" rating, indicating a potential upside of 8.70% from the previous close.
• Several analysts have issued various price targets for Sandisk, with Citigroup increasing its target to $125.00 and Mizuho to $112.00, while Weiss Ratings reiterated a "sell" rating.
• Institutional investors are actively acquiring positions in Sandisk, with recent notable investments totaling approximately $9 million across several firms in the third quarter.

Sandisk (NASDAQ:SNDK - Get Free Report) had its price target upped by equities researchers at The Goldman Sachs Group from $55.00 to $140.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the data storage provider's stock. The Goldman Sachs Group's price objective points to a potential upside of 8.70% from the company's previous close.

Several other analysts have also issued reports on SNDK. Citigroup boosted their price objective on shares of Sandisk from $80.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Jefferies Financial Group started coverage on shares of Sandisk in a research note on Monday, July 7th. They set a "buy" rating and a $60.00 price target on the stock. Mizuho boosted their price target on shares of Sandisk from $57.00 to $112.00 and gave the stock an "outperform" rating in a research note on Friday, September 19th. Morgan Stanley boosted their price target on shares of Sandisk from $70.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Sandisk in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $82.81.

Sandisk Price Performance

SNDK traded down $3.08 on Thursday, hitting $128.80. The company had a trading volume of 2,799,247 shares, compared to its average volume of 4,082,945. Sandisk has a 1 year low of $27.89 and a 1 year high of $137.05. The company's fifty day moving average price is $71.03 and its 200 day moving average price is $51.10. The company has a quick ratio of 2.11, a current ratio of 3.56 and a debt-to-equity ratio of 0.20.

Hedge Funds Weigh In On Sandisk

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new position in Sandisk in the third quarter valued at approximately $439,000. Praxis Investment Management Inc. acquired a new position in Sandisk in the third quarter valued at approximately $533,000. Osaic Holdings Inc. acquired a new position in Sandisk in the second quarter valued at approximately $317,000. Corient Private Wealth LLC acquired a new position in Sandisk in the second quarter valued at approximately $353,000. Finally, Voya Investment Management LLC acquired a new position in Sandisk in the third quarter valued at approximately $8,917,000.

Sandisk Company Profile

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.

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