Sandisk (NASDAQ:SNDK) Shares Up 15.4% on Analyst Upgrade

Key Points

• Sandisk shares jumped 15.4% intraday after Citigroup raised its price target to $750 and reiterated a Buy, with volume (~28M shares) about 54% above the average and the stock trading as high as $674.00.
• The move follows a strong quarter—Sandisk reported $6.20 EPS (vs. $3.31 expected) and $3.03B revenue, up 61.2% year-over-year—and has prompted multiple analysts to lift targets (UBS at $1,000), leaving a MarketBeat average price target of $542.85 and a consensus of "Moderate Buy."

Shares of Sandisk Corporation (NASDAQ:SNDK - Get Free Report) traded up 15.4% on Monday after Citigroup raised their price target on the stock from $490.00 to $750.00. Citigroup currently has a buy rating on the stock. Sandisk traded as high as $674.00 and last traded at $665.24. 27,998,593 shares changed hands during trading, an increase of 54% from the average session volume of 18,219,355 shares. The stock had previously closed at $576.25.

A number of other brokerages have also weighed in on SNDK. China Renaissance assumed coverage on shares of Sandisk in a research note on Friday, December 5th. They issued a "buy" rating and a $322.00 target price for the company. JPMorgan Chase & Co. initiated coverage on Sandisk in a report on Monday, December 8th. They set a "neutral" rating and a $235.00 price objective for the company. Zacks Research lowered Sandisk from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 22nd. Wall Street Zen raised Sandisk from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, UBS Group set a $1,000.00 price target on shares of Sandisk in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $542.85.

Insider Activity

In related news, Director Necip Sayiner sold 1,271 shares of the firm's stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total value of $248,022.94. Following the completion of the sale, the director directly owned 3,479 shares in the company, valued at approximately $678,892.06. This trade represents a 26.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.21% of the company's stock.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Citigroup raised its price target on SNDK to $750 and reiterated a Buy rating, citing the company’s strong quarter and durable NAND demand. Citigroup Raises PT to $750 (Benzinga)
• Positive Sentiment: SanDisk’s shares are rallying on continued momentum from last week’s earnings beat — investors are rewarding the company’s outsized revenue and profit gains. SanDisk Stock Continues To Surge (Benzinga)
• Positive Sentiment: Multiple outlets and analysts have pushed targets higher (another reported raise to ~$740 and a Wall Street median near $690), reinforcing a consensus that SNDK still has significant upside. Price Target Raised to $740 (AmericanBankingNews)
• Positive Sentiment: Longer-term bullish commentary (including pieces forecasting $1,000 targets) highlights sentiment that SNDK is a high-margin NAND/SSD leader benefiting from AI infrastructure demand. Wall Street Sees SanDisk Hitting $1,000 (247wallst)
• Positive Sentiment: Analysis arguing structural NAND demand from edge AI and decentralized inference supports sustainably higher margins and growth, providing a fundamental rationale for the rally. Smart Money Is Moving To Sandisk (Seeking Alpha)
• Positive Sentiment: News coverage notes another sizable intraday gain as momentum builds following the earnings print and fresh analyst optimism. Stock Rockets Another 16% (Invezz)
• Neutral Sentiment: Investor anecdotes (e.g., notable portfolio gains by public figures) highlight retail/attention-driven interest but have limited standalone informational value. Investor Anecdote: TipRanks (Hikaru Nakamura)

Hedge Funds Weigh In On Sandisk

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. acquired a new stake in shares of Sandisk during the 4th quarter worth about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Sandisk in the 3rd quarter valued at about $27,000. Chung Wu Investment Group LLC acquired a new stake in Sandisk during the fourth quarter worth approximately $27,000. CVA Family Office LLC bought a new stake in shares of Sandisk during the third quarter worth approximately $28,000. Finally, Westfuller Advisors LLC boosted its holdings in shares of Sandisk by 51.8% during the fourth quarter. Westfuller Advisors LLC now owns 126 shares of the data storage provider's stock worth $30,000 after acquiring an additional 43 shares during the period.

Sandisk Stock Up 15.4%

The company has a market cap of $97.49 billion and a price-to-earnings ratio of -87.65. The firm has a 50-day moving average price of $308.87 and a 200 day moving average price of $179.60. 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 (NASDAQ:SNDK - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The data storage provider reported $6.20 EPS for the quarter, beating analysts' consensus estimates of $3.31 by $2.89. Sandisk had a positive return on equity of 10.11% and a negative net margin of 11.66%.The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.67 billion. The firm's quarterly revenue was up 61.2% on a year-over-year basis.

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. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.

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