Sandisk (NASDAQ:SNDK) Shares Up 5.2% - Time to Buy?

Key Points

• Sandisk shares rose 5.2% on Friday, trading as high as $2,021.65 as investor interest remained strong despite lower-than-average volume.
• Analysts turned increasingly bullish, with Bank of America and others lifting price targets to as high as $2,300 while maintaining Buy/Overweight ratings, citing continued AI-driven memory demand.
• Fundamentals and momentum remain strong: Sandisk recently posted earnings well above expectations and reported 251% year-over-year revenue growth, reinforcing the stock’s sharp year-to-date rally.

Sandisk Corporation (NASDAQ:SNDK - Get Free Report)'s share price rose 5.2% on Friday . The company traded as high as $2,021.65 and last traded at $1,980.10. Approximately 11,637,723 shares were traded during trading, a decline of 32% from the average daily volume of 17,171,945 shares. The stock had previously closed at $1,881.51.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Bank of America raised its price target on Sandisk to $2,100 and kept a Buy rating, signaling confidence that the AI memory demand trend still has room to run. SanDisk Stock's 5,000% Rally Hasn't Stopped This Analyst: Is $2,100 Next?
• Positive Sentiment: Another analyst update also boosted sentiment, with BofA’s Wamsi Mohan reportedly lifting his target to $2,100 on the view that Sandisk remains well positioned in the memory market. This Analyst Just Upped the Price Target on SanDisk Stock. Here's Why.
• Positive Sentiment: Shares also rose on a broader rebound in memory stocks after SK Hynix’s capacity plan lifted optimism around supply-demand balance in the sector. SanDisk Jumps 14%, Western Digital Climbs 6% as Memory Stocks Rebound on SK Hynix's Capacity Plan
• Positive Sentiment: Market commentary continues to frame SNDK as an AI growth winner, with traders and analysts highlighting strong memory demand and expanding AI infrastructure exposure. SanDisk Stock (SNDK) Is Up 692% YTD. AI Analyst Raises Price Target and Still Sees More Upside Ahead
• Neutral Sentiment: Some media coverage is focused mainly on the stock’s extraordinary year-to-date surge and valuation, which may keep investor attention high but does not add a new operational catalyst. SanDisk skyrockets over 692% YTD, yet SNDK stock still appears reasonably valued

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Arete Research upgraded Sandisk from a "hold" rating to a "strong-buy" rating in a report on Monday, April 13th. Raymond James Financial reaffirmed an "outperform" rating and issued a $1,470.00 price target on shares of Sandisk in a research note on Friday, May 1st. Mizuho boosted their price target on shares of Sandisk from $1,825.00 to $2,200.00 and gave the company an "outperform" rating in a research report on Monday. Citigroup raised their price objective on shares of Sandisk from $1,300.00 to $2,025.00 and gave the stock a "buy" rating in a report on Tuesday, May 19th. Finally, Barclays upgraded Sandisk from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $1,200.00 to $2,300.00 in a report on Tuesday, May 26th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Sandisk currently has an average rating of "Moderate Buy" and an average target price of $1,580.67.

Sandisk Price Performance

The stock's 50 day simple moving average is $1,262.36 and its two-hundred day simple moving average is $740.58. The firm has a market cap of $293.23 billion, a P/E ratio of 68.83 and a beta of 4.87.

Sandisk (NASDAQ:SNDK - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share 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 return on equity of 44.06% and a net margin of 34.19%.The business's quarterly revenue was up 251.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities research analysts anticipate that Sandisk Corporation will post 64.01 earnings per share for the current year.

Insider Buying and Selling

In other Sandisk news, Director Necip Sayiner sold 579 shares of the firm's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the completion of the sale, the director directly owned 2,900 shares in the company, valued at approximately $4,359,019. This trade represents a 16.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael Pokorny sold 2,446 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the completion of the transaction, the chief accounting officer owned 22,375 shares in the company, valued at approximately $31,910,777.50. This represents a 9.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,625 shares of company stock valued at $8,913,497 over the last ninety days. Insiders own 0.21% of the company's stock.

Institutional Investors Weigh In On Sandisk

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. purchased a new position in Sandisk in the 3rd quarter worth about $1,970,388,000. State Street Corp purchased a new stake in shares of Sandisk during the 3rd quarter valued at about $491,053,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Sandisk in the third quarter worth approximately $297,293,000. Norges Bank purchased a new position in shares of Sandisk during the fourth quarter valued at approximately $518,889,000. Finally, Bank of America Corp DE purchased a new position in shares of Sandisk during the third quarter valued at approximately $190,425,000.

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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