Sandisk (NASDAQ:SNDK) Stock Price Up 3.3% After Analyst Upgrade

Key Points

• Sandisk shares rose 3.3% in midday trading after Mizuho lifted its price target to $1,825 from $1,625 and kept an outperform rating. The stock traded as high as $1,697.96 amid heavy volume, though still below the analyst target.
• Other firms have also turned more bullish on Sandisk, with several analysts raising targets recently, including Citigroup to $2,025 and Cantor Fitzgerald to $1,800. Overall, Wall Street’s consensus remains a Buy, with 3 Strong Buys, 19 Buys, and 3 Holds.
• The company’s recent momentum is supported by strong fundamentals and sector optimism: Sandisk beat quarterly EPS estimates, posted revenue growth of 251% year over year, and is benefiting from enthusiasm around AI-driven memory demand.

Sandisk Corporation (NASDAQ:SNDK - Get Free Report) rose 3.3% during mid-day trading on Thursday after Mizuho raised their price target on the stock from $1,625.00 to $1,825.00. Mizuho currently has an outperform rating on the stock. Sandisk traded as high as $1,697.96 and last traded at $1,641.64. Approximately 9,892,209 shares changed hands during trading, a decline of 45% from the average daily volume of 17,839,148 shares. The stock had previously closed at $1,589.94.

Other research analysts have also recently issued research reports about the stock. Sanford C. Bernstein boosted their price objective on shares of Sandisk from $1,250.00 to $1,700.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Royal Bank Of Canada boosted their price objective on shares of Sandisk from $650.00 to $1,000.00 and gave the company a "sector perform" rating in a report on Friday, May 1st. Cantor Fitzgerald boosted their price objective on shares of Sandisk from $1,400.00 to $1,800.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Wells Fargo & Company boosted their price objective on shares of Sandisk from $975.00 to $1,250.00 and gave the company an "equal weight" rating in a report on Friday, May 1st. Finally, Citigroup boosted their price objective on shares of Sandisk from $1,300.00 to $2,025.00 and gave the company a "buy" rating in a report on Tuesday, May 19th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $1,234.64.

Insider Buying and Selling

In other Sandisk news, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the transaction, the chief accounting officer owned 22,375 shares of the company's stock, valued at approximately $31,910,777.50. The trade was a 9.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction that occurred on 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 transaction, the director directly owned 2,900 shares in the company, valued at approximately $4,359,019. The trade was a 16.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company's stock.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Barclays and Mizuho both raised their price targets on Sandisk, with analysts pointing to surging AI storage demand, strong pricing, and a long-term contract strategy that could support earnings growth. Analyst price target raise news
• Positive Sentiment: Wall Street’s broader bullishness on memory stocks is spilling over into SNDK, after Micron’s rally and a fresh wave of positive sector calls lifted semiconductor peers. Memory stock rally article
• Positive Sentiment: SanDisk also got attention for winning 2026 Red Dot Design Awards, adding another headline that reinforced positive investor sentiment around the brand. Red Dot Design Awards article
• Positive Sentiment: Recent commentary also highlighted Sandisk’s explosive post-spinout performance and suggested the AI memory boom may still have room to run, even after the stock’s huge multi-month advance. Zacks AI memory boom article
• Neutral Sentiment: Short-interest data was reported as essentially flat/invalid due to zero shares, so it does not appear to be a meaningful trading catalyst today.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Glenmede Trust Co. NA lifted its position in shares of Sandisk by 76.4% in the first quarter. Glenmede Trust Co. NA now owns 2,754 shares of the data storage provider's stock worth $1,750,000 after purchasing an additional 1,193 shares in the last quarter. Liontrust Investment Partners LLP bought a new stake in shares of Sandisk in the first quarter worth $11,892,000. January Capital Advisors LLC bought a new stake in shares of Sandisk in the first quarter worth $565,000. SOA Wealth Advisors LLC. lifted its position in shares of Sandisk by 108.0% in the first quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider's stock worth $33,000 after purchasing an additional 27 shares in the last quarter. Finally, Western Wealth Management LLC bought a new stake in shares of Sandisk in the first quarter worth $73,000.

Sandisk Price Performance

The stock's 50-day moving average price is $1,036.08 and its 200 day moving average price is $627.45. The firm has a market cap of $243.11 billion, a P/E ratio of 57.06 and a beta of 4.82.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, topping analysts' consensus estimates of $14.17 by $9.24. The business 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%. The business's revenue for the quarter was up 251.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, analysts forecast that Sandisk Corporation will post 63.58 EPS for the current fiscal year.

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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