Sandisk (NASDAQ:SNDK) Stock Price Up 6.9% - Here's What Happened

Key Points

• Shares rose 6.9%, trading as high as $231 and last at $221 on Thursday with ~2.75M shares changing hands (down 53% vs. average); market cap is about $31.6 billion.
• Earnings beat: SanDisk reported $1.22 EPS vs. $0.58 expected and revenue of $2.31B (up 22.6% YoY), and guided Q2 FY2026 EPS to $3.00–$3.40.
• Analyst sentiment has warmed to a consensus "Moderate Buy" with an average target of $213.33, including notable raises to $300 (Susquehanna) and $230 (Wells Fargo).

Sandisk Corporation (NASDAQ:SNDK - Get Free Report) shares were up 6.9% during trading on Thursday . The stock traded as high as $231.00 and last traded at $221.00. Approximately 2,748,890 shares were traded during trading, a decline of 53% from the average daily volume of 5,792,561 shares. The stock had previously closed at $206.83.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SNDK. Wells Fargo & Company raised their price objective on Sandisk from $115.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Friday, November 7th. Susquehanna increased their price target on Sandisk from $250.00 to $300.00 and gave the stock a "positive" rating in a report on Monday, December 8th. Barclays upped their target price on Sandisk from $39.00 to $220.00 and gave the company an "equal weight" rating in a research report on Monday, November 10th. Wall Street Zen raised Sandisk from a "hold" rating to a "strong-buy" rating in a research note on Saturday, November 15th. Finally, Benchmark reiterated a "buy" rating on shares of Sandisk in a research note on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Sandisk has a consensus rating of "Moderate Buy" and an average target price of $213.33.

Sandisk Price Performance

The stock has a market capitalization of $31.59 billion and a P/E ratio of 673.66. The business has a fifty day simple moving average of $202.42 and a 200 day simple moving average of $108.68. The company has a current ratio of 3.29, a quick ratio of 2.03 and a debt-to-equity ratio of 0.14.

Sandisk (NASDAQ:SNDK - Get Free Report) last announced its earnings results on Thursday, November 6th. The data storage provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.64. The company had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.12 billion. The firm's revenue for the quarter was up 22.6% compared to the same quarter last year. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Insider Buying and Selling at Sandisk

In related news, Director Necip Sayiner sold 1,271 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total transaction of $248,022.94. Following the completion of the transaction, the director owned 3,479 shares in the company, valued at approximately $678,892.06. This represents a 26.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.21% of the company's stock.

Institutional Trading of Sandisk

Hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Sandisk during the 3rd quarter worth $27,000. CVA Family Office LLC purchased a new position in shares of Sandisk in the third quarter worth about $28,000. Parallel Advisors LLC purchased a new position in shares of Sandisk in the third quarter worth about $30,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Sandisk during the 3rd quarter valued at approximately $32,000. Finally, Covestor Ltd bought a new position in Sandisk in the 3rd quarter worth approximately $37,000.

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.

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