Sandisk (NASDAQ:SNDK) Shares Up 16.6% - Time to Buy?

Key Points

• SanDisk shares jumped 16.6% in Friday trading, with volume running above average as investors piled into the stock amid strong momentum around AI-related memory demand.
• Recent analyst updates remain bullish: Cantor Fitzgerald, Goldman Sachs, Citigroup, Evercore, and Sanford C. Bernstein all raised targets or reiterated positive ratings, with several firms now seeing substantial upside from current levels.
• The rally is being supported by blowout earnings and guidance, including a Q3 report that beat estimates by a wide margin and revenue that surged 251% year over year, though some commentary warns the stock may be becoming stretched and volatile.

Sandisk Corporation (NASDAQ:SNDK - Get Free Report)'s stock price traded up 16.6% during mid-day trading on Friday . The stock traded as high as $1,564.00 and last traded at $1,562.34. 19,988,868 shares traded hands during trading, an increase of 7% from the average session volume of 18,609,973 shares. The stock had previously closed at $1,339.96.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Shares are benefiting from the broad AI memory supercycle trade, as investors rotate into SanDisk and Micron on expectations that AI data-center demand will keep memory supply tight and pricing strong. SanDisk Did In Months What Nvidia Took 9 Years To Pull Off — And The Chart Looks Almost Unreal
• Positive Sentiment: Wall Street sentiment remains bullish after Cantor Fitzgerald raised its price target on SanDisk to $1,800 and Goldman Sachs lifted its target to $1,200, reinforcing the view that the stock still has room to run after its strong earnings beat and raised outlook. Why Sandisk Corporation (SNDK) is One of the Top Stock Giants That Were Suddenly On Fire in April Goldman Sachs Raises its Price Target on SanDisk (SNDK) to $1,200
• Positive Sentiment: Analyst chatter and media coverage are increasingly framing SanDisk as a leading beneficiary of AI infrastructure spending, including reports that the company has locked in major AI-related deals and could still nearly double from current levels if the memory boom persists. SanDisk to $2,000: Why This Analyst Is Betting SNDK Stock Can Still Almost Double — And Putting Up the Highest Price Target on Wall Street SanDisk stock surges 10% after locking in $42 billion in AI deals
• Neutral Sentiment: Some commentary suggests the move is getting stretched after an enormous run, with options activity and short-interest concerns signaling that traders may be preparing for volatility even if the longer-term thesis remains intact. Sandisk: The Options Market Is Pricing A Big Selloff (Technical Analysis)
• Negative Sentiment: Near-term pullbacks have been tied to bubble concerns and short-selling pressure, with some investors warning the AI rally may be overheated even as others still see further upside. Why Is SanDisk Stock Falling On Thursday?

Analyst Ratings Changes

SNDK has been the topic of a number of research reports. Benchmark increased their price objective on shares of Sandisk from $260.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday, January 15th. Arete Research raised shares of Sandisk from a "hold" rating to a "strong-buy" rating in a report on Monday, April 13th. Evercore reiterated an "outperform" rating and issued a $1,400.00 price target on shares of Sandisk in a research report on Friday, May 1st. Citigroup raised their price objective on shares of Sandisk from $980.00 to $1,300.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Finally, Sanford C. Bernstein lifted their price objective on Sandisk from $1,250.00 to $1,700.00 and gave the stock an "outperform" rating in a research report on Monday. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,065.81.

Sandisk Trading Up 16.6%

The stock has a market cap of $231.37 billion, a price-to-earnings ratio of 54.30 and a beta of 4.82. The firm's 50 day moving average is $797.19 and its two-hundred day moving average is $500.60.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.17 by $9.24. The company had revenue of $5.95 billion for the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. Sandisk's revenue for the quarter was up 251.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, equities analysts expect that Sandisk Corporation will post 63.93 EPS for the current fiscal year.

Insider Transactions at Sandisk

In other Sandisk news, Director Miyuki Suzuki sold 3,500 shares of Sandisk 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 sale, the director directly owned 9,907 shares of the company's stock, valued at approximately $6,216,939.71. The trade was a 26.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.21% of the company's stock.

Institutional Investors Weigh In On Sandisk

Hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its position in shares of Sandisk by 86.5% in the first quarter. PNC Financial Services Group Inc. now owns 30,049 shares of the data storage provider's stock valued at $19,091,000 after purchasing an additional 13,940 shares during the period. Wilkerson Advisory Group LLC purchased a new position in Sandisk during the first quarter worth about $76,000. Atlantic Private Wealth LLC boosted its stake in Sandisk by 23.2% in the 1st quarter. Atlantic Private Wealth LLC now owns 409 shares of the data storage provider's stock worth $260,000 after buying an additional 77 shares during the last quarter. Andar Capital Management HK Ltd acquired a new stake in Sandisk in the 1st quarter worth about $4,320,000. Finally, Convergence Investment Partners LLC purchased a new stake in Sandisk in the 1st quarter valued at about $6,058,000.

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

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