Sandisk (NASDAQ:SNDK) Releases Q4 2026 Earnings Guidance

Key Points

• Sandisk issued blowout Q4 2026 guidance of EPS $30.00–$33.00 (consensus $21.76) and revenue $7.8B–$8.3B (consensus $6.3B), signaling much stronger expected results than analysts forecast.
• The stock jumped (about +3% to $1,096.51) amid multiple sell‑side upgrades and an average price target of $812.95, but options pricing, high short interest and warnings about stretched valuation indicate significant post‑earnings volatility and downside risk.
• SanDisk also recently reported a strong quarter (EPS $6.20 vs. $3.31 est.; revenue $3.03B, up 61% YoY), supporting the upbeat guidance and analyst bullishness tied to rising NAND pricing and AI storage demand.

Sandisk (NASDAQ:SNDK - Get Free Report) updated its fourth quarter 2026 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 30.000-33.000 for the period, compared to the consensus estimate of 21.760. The company issued revenue guidance of $7.8 billion-$8.3 billion, compared to the consensus revenue estimate of $6.3 billion.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SNDK. Cantor Fitzgerald set a $1,400.00 price target on Sandisk in a research note on Monday. Zacks Research raised Sandisk from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 20th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $650.00 price objective on shares of Sandisk in a research note on Friday, January 30th. Morgan Stanley reaffirmed an "overweight" rating and set a $1,100.00 price objective on shares of Sandisk in a research note on Monday. Finally, KGI Securities started coverage on Sandisk in a research note on Wednesday, March 18th. They set an "outperform" rating and a $992.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $812.95.

Sandisk Stock Up 3.0%

SNDK stock traded up $32.30 during trading hours on Thursday, reaching $1,096.51. 14,102,994 shares of the stock were exchanged, compared to its average volume of 18,500,436. The firm's 50-day moving average is $743.66 and its 200-day moving average is $465.19. The company has a market cap of $161.85 billion, a price-to-earnings ratio of -144.47 and a beta of 5.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.11 and a quick ratio of 1.92. Sandisk has a 12 month low of $32.48 and a 12 month high of $1,115.00.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its earnings results on Thursday, January 29th. The data storage provider reported $6.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.31 by $2.89. The firm had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $2.67 billion. Sandisk had a positive return on equity of 10.11% and a negative net margin of 11.66%.The business's revenue for the quarter was up 61.2% on a year-over-year basis. On average, equities research analysts expect that Sandisk will post 39.01 earnings per share for the current year.

Insider Transactions at Sandisk

In other Sandisk news, Director Miyuki Suzuki sold 3,500 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $627.53, for a total transaction of $2,196,355.00. Following the completion of the transaction, the director owned 9,907 shares in the company, valued at approximately $6,216,939.71. This represents a 26.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.21% of the company's stock.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analysts say Sandisk could beat its own guidance as NAND pricing rose faster than expected, implying upside to revenue and margins. Sandisk could blow past its own guidance as NAND pricing hits triple digits
• Positive Sentiment: Peer results (Seagate) and broader memory demand from AI workloads have reinforced the narrative of structural demand for NAND — supporting higher consensus estimates for Sandisk. SanDisk stock surges as Seagate confirms AI storage demand
• Positive Sentiment: Major sell‑side upgrades and raised price targets ahead of the print (e.g., Morgan Stanley / others) are supporting buying into earnings. Top Analyst Lifts SanDisk Stock (SNDK) Price Target
• Neutral Sentiment: Options markets are pricing a very large post‑earnings move (~21%), indicating traders expect volatility but not direction; this amplifies both upside and downside risk around the print. Wall Street Braces for 21% Post-Report Swing
• Neutral Sentiment: High short interest and heavy retail/quant participation have contributed to large intraday moves this year — this can magnify rallies (squeeze) or exacerbate drops if sentiment flips. Why SanDisk Stock Is Climbing On Thursday?
• Negative Sentiment: Several outlets warn the rally may be overextended (3,000%+ YTD) and flag valuation risk — a disappointing print or any sign of slowing pricing could trigger a large selloff. SanDisk Looks Overvalued, Stock Set for 32% Drop
• Negative Sentiment: Even with upside expectations, Barron's and others note earnings will be a stress test for the AI rally — a miss on revenue, guidance, or signs of easing NAND prices could quickly reverse gains. Sandisk Stock Has Soared 3,300%. Earnings Will Test the AI Rally.

Hedge Funds Weigh In On Sandisk

Several hedge funds have recently modified their holdings of SNDK. Osaic Holdings Inc. bought a new position in shares of Sandisk in the 2nd quarter valued at about $317,000. Merit Financial Group LLC bought a new position in shares of Sandisk in the 3rd quarter valued at about $408,000. Dimensional Fund Advisors LP bought a new position in shares of Sandisk in the 3rd quarter valued at about $100,080,000. First Trust Advisors LP bought a new position in shares of Sandisk in the 3rd quarter valued at about $9,788,000. Finally, Blair William & Co. IL bought a new position in shares of Sandisk in the 3rd quarter valued at about $591,000.

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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