Sandisk (NASDAQ:SNDK) Stock Price Up 10.7% - Should You Buy?

Key Points

• Sandisk shares jumped 10.7% as memory stocks rebounded, with traders rotating back into NAND and AI-related semiconductor names after a recent selloff.
• Analysts turned more bullish on the company’s AI-driven NAND demand and improving fundamentals, while Citigroup raised its price target to $2,025; the consensus rating remains Moderate Buy.
• Recent earnings were very strong, with Sandisk posting $23.41 EPS on $5.95 billion in revenue and revenue up 251% year over year, though some commentary still warns the stock may have run too far too fast.

Sandisk Corporation (NASDAQ:SNDK - Get Free Report)'s stock price rose 10.7% on Thursday . The stock traded as high as $1,546.09 and last traded at $1,542.24. Approximately 13,594,121 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 18,120,721 shares. The stock had previously closed at $1,392.56.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Memory stocks are rebounding broadly, with SanDisk leading the group higher as traders buy back into NAND and AI-related semiconductor names after a recent selloff. SanDisk Soars 9%, Western Digital Rallies 5%, Micron Rises 3% as Memory Trade Reawakens
• Positive Sentiment: Analysts are highlighting AI-driven NAND demand, Sandisk’s move up the value chain, and improving fundamentals, with one note calling the stock undervalued relative to FY2027 earnings power. Sandisk: Moving Up The Value Chain And Cheap At 7x FY2027 P/E
• Positive Sentiment: Another bullish report says Sandisk’s AI pivot is changing the NAND narrative, suggesting investors are starting to price in stronger demand tied to data-center expansion. Sandisk's AI Pivot Changes The NAND Narrative
• Positive Sentiment: Media coverage says Citigroup and Bernstein have raised bullish expectations for the stock, adding momentum to the rally as investors react to stronger forecast revisions. Why Is SanDisk Stock Surging On Thursday?
• Neutral Sentiment: Some commentary remains cautious, with one analyst saying the stock has run too far too fast even after acknowledging Sandisk’s improved business execution. SanDisk (SNDK) Has Surprised Me. I’m Still Not Buying the Stock Yet
• Neutral Sentiment: Jim Cramer’s latest remark that Sandisk “gotta let it come down more” reflects skepticism on valuation, but it does not appear to be overpowering the current bullish flow. Jim Cramer on Sandisk: “Gotta Let It Come Down More”

Analysts Set New Price Targets

SNDK has been the topic of several recent research reports. KGI Securities started coverage on shares of Sandisk in a research note on Wednesday, March 18th. They issued an "outperform" rating and a $992.00 price objective on the stock. The Goldman Sachs Group reissued a "buy" rating and issued a $1,200.00 target price on shares of Sandisk in a report on Friday, May 1st. Citigroup raised their target price on shares of Sandisk from $1,300.00 to $2,025.00 and gave the company a "buy" rating in a report on Tuesday. Weiss Ratings raised shares of Sandisk from a "sell (d+)" rating to a "hold (c+)" rating in a report on Wednesday, May 6th. Finally, Mizuho set a $1,220.00 target price on shares of Sandisk in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,157.14.

Sandisk Stock Up 10.7%

The firm's 50 day simple moving average is $947.66 and its 200 day simple moving average is $580.59. The company has a market capitalization of $228.39 billion, a PE ratio of 53.61 and a beta of 4.82.

Sandisk (NASDAQ:SNDK - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, topping the consensus estimate of $14.17 by $9.24. The company had revenue of $5.95 billion during the quarter. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The firm's quarterly revenue was up 251.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, sell-side analysts predict that Sandisk Corporation will post 63.58 EPS for the current fiscal year.

Insider Transactions at Sandisk

In other news, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction 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 sale, the chief accounting officer directly owned 22,375 shares in the company, valued at approximately $31,910,777.50. This trade represents a 9.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Miyuki Suzuki sold 3,500 shares of Sandisk stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $627.53, for a total value of $2,196,355.00. Following the sale, the director owned 9,907 shares of the company's stock, valued at approximately $6,216,939.71. This trade represents a 26.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 6,525 shares of company stock worth $6,555,092. 0.21% of the stock is currently owned by insiders.

Institutional Trading of Sandisk

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. bought a new stake in shares of Sandisk during the third quarter worth $1,970,388,000. State Street Corp lifted its position in shares of Sandisk by 20.7% during the fourth quarter. State Street Corp now owns 5,281,522 shares of the data storage provider's stock worth $1,253,728,000 after purchasing an additional 904,933 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Sandisk by 44.9% during the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider's stock worth $866,310,000 after purchasing an additional 1,133,276 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Sandisk by 31.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider's stock valued at $825,608,000 after acquiring an additional 828,332 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of Sandisk by 7.2% in the fourth quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider's stock valued at $705,105,000 after acquiring an additional 199,545 shares in the last quarter.

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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