Sandisk (NASDAQ:SNDK) Stock Price Up 1.8% - Still a Buy?

Key Points

• Sandisk shares rose 1.8% on Friday, trading between $1,382.72 and $1,426.38, as investors continued to bid up the stock despite lighter-than-average volume.
• Recent earnings and AI/data center demand remain a major tailwind, with Sandisk reporting EPS of $23.41 versus $14.17 expected and revenue up 251% year over year, while commentary highlights strong enterprise SSD and QLC product demand.
• Wall Street sentiment is broadly bullish but increasingly cautious: several firms raised price targets and ratings, yet some analysts warn the rally may have run too far, with the stock already trading well above the consensus target price.

Sandisk Corporation (NASDAQ:SNDK - Get Free Report) shares rose 1.8% during trading on Friday . The company traded as high as $1,426.38 and last traded at $1,407.61. Approximately 13,679,987 shares changed hands during trading, a decline of 26% from the average daily volume of 18,370,574 shares. The stock had previously closed at $1,382.72.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk is benefiting from strong AI-driven data center demand, with enterprise SSD sales and new QLC Stargate solutions supporting the growth outlook. Sandisk Rides on Strong Datacenter Revenues: More Upside Ahead?
• Positive Sentiment: Sandisk has been boosted by optimism around the memory rally and AI infrastructure spending, keeping momentum investors focused on the stock’s earnings power. Sandisk Price Prediction: Has the Rally Gone Too Far?
• Positive Sentiment: Recent commentary says S&P upgraded Sandisk after it repaid all debt, built a $3.7 billion cash balance, and authorized a $6 billion buyback, all of which support the bull case. What's Going On With Sandisk Stock Thursday?
• Neutral Sentiment: Sandisk recommended stockholders reject an unsolicited mini-tender offer from Tutanota LLC; the offer is small and unlikely to affect operations. Sandisk Recommends Stockholders Reject “Mini-Tender” Offer by Tutanota LLC
• Neutral Sentiment: An insider sale by the chief accounting officer was disclosed, but it appears routine and does not change Sandisk’s operating outlook. Top SanDisk Executive Makes Major Move With Insider Stock Sale
• Negative Sentiment: Some analysts warn the stock’s huge rally may have gone too far, leaving SNDK vulnerable if sentiment toward AI and memory names cools. ‘Don’t Throw Caution Away,’ Says Top Investor About Sandisk Stock

Analyst Upgrades and Downgrades

SNDK has been the subject of a number of recent analyst reports. Sanford C. Bernstein boosted their price target on shares of Sandisk from $1,250.00 to $1,700.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Bank of America boosted their price target on shares of Sandisk from $900.00 to $1,080.00 and gave the company a "buy" rating in a research report on Friday, April 17th. Weiss Ratings upgraded shares of Sandisk from a "sell (d+)" rating to a "hold (c+)" rating in a research report on Wednesday, May 6th. Arete Research upgraded shares of Sandisk from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 13th. Finally, Cantor Fitzgerald boosted their price target on shares of Sandisk from $1,400.00 to $1,800.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,065.81.

Sandisk Trading Up 1.8%

The company has a market capitalization of $208.45 billion, a P/E ratio of 48.93 and a beta of 4.82. The business's fifty day moving average price is $882.95 and its 200-day moving average price is $547.04.

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

Insiders Place Their Bets

In other Sandisk news, Director Miyuki Suzuki sold 3,500 shares of the business's stock in a transaction 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 $6,216,939.71. The trade was a 26.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Necip Sayiner sold 579 shares of the business's stock in a transaction on Friday, May 8th. The stock was 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 of the company's stock, valued at $4,359,019. This represents a 16.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,525 shares of company stock valued at $6,555,092 over the last three months. Insiders own 0.21% of the company's stock.

Institutional Trading of Sandisk

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. bought a new position in shares of Sandisk during the third quarter valued at about $1,970,388,000. State Street Corp bought a new position in shares of Sandisk during the third quarter valued at about $491,053,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Sandisk during the third quarter valued at about $297,293,000. Norges Bank bought a new position in shares of Sandisk during the fourth quarter valued at about $518,889,000. Finally, Bank of America Corp DE bought a new position in shares of Sandisk during the third quarter valued at about $190,425,000.

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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