Sandisk (NASDAQ:SNDK) Trading 3.8% Higher After Analyst Upgrade

Key Points

• Sandisk shares rose 3.8% after Citigroup lifted its price target sharply to $2,025 from $1,300 and reiterated a buy rating. The stock traded as high as $1,392.86 during the session.
• Analyst sentiment remains broadly bullish, with several firms recently raising targets or reaffirming positive ratings. The article notes a consensus rating of Moderate Buy and an average target price of $1,157.14.
• Sandisk’s latest quarterly results were strong, with EPS of $23.41 versus $14.17 expected and revenue up 251% year over year to $5.95 billion. The company also raised its Q4 2026 guidance to 30.0–33.0 EPS.

Shares of Sandisk Corporation (NASDAQ:SNDK - Get Free Report) traded up 3.8% during mid-day trading on Tuesday after Citigroup raised their price target on the stock from $1,300.00 to $2,025.00. Citigroup currently has a buy rating on the stock. Sandisk traded as high as $1,392.86 and last traded at $1,383.29. 13,147,848 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 18,259,074 shares. The stock had previously closed at $1,333.01.

Other equities research analysts also recently issued research reports about the company. Raymond James Financial restated an "outperform" rating and set a $1,470.00 price target on shares of Sandisk in a research report on Friday, May 1st. Barclays increased their price objective on Sandisk from $750.00 to $1,200.00 and gave the company an "equal weight" rating in a research report on Friday, May 1st. Wall Street Zen raised Sandisk from a "buy" rating to a "strong-buy" rating in a report on Saturday, January 31st. Jefferies Financial Group reissued a "buy" rating and set a $1,400.00 price objective on shares of Sandisk in a report on Friday, May 1st. Finally, Bank of America raised their price objective on Sandisk from $900.00 to $1,080.00 and gave the company a "buy" rating in a report on Friday, April 17th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,157.14.

Insider Activity at Sandisk

In related news, Director Miyuki Suzuki sold 3,500 shares of the business's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $627.53, for a total transaction of $2,196,355.00. Following the transaction, the director owned 9,907 shares in the company, valued at $6,216,939.71. The trade was a 26.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Michael Pokorny sold 2,446 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $31,910,777.50. This represents a 9.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 6,525 shares of company stock valued at $6,555,092. Corporate insiders own 0.21% of the company's stock.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Citigroup raised its price target on Sandisk to $2,025 from $1,300 and kept a Buy rating, citing accelerating demand for NAND flash storage tied to AI infrastructure and hyperscale data-center expansion. Sandisk Stock Can Rise Another 52%, Says Citi. Why Investors Should Buy.
• Positive Sentiment: Melius Research also boosted its target, setting a Street-high $2,350 and reiterating a Buy, adding to the bullish analyst momentum around SNDK. Wall Street sets Sandisk stock price target for the next 12 months
• Positive Sentiment: Recent commentary continues to highlight SanDisk’s AI-driven storage growth, large supply agreements, and a $6 billion buyback program as support for the stock’s long-term earnings power. SanDisk (SNDK) Stock Gains Citi’s $2,025 Price Target: Can It Surge 52% Higher?
• Neutral Sentiment: Sandisk is participating in upcoming investor conferences on May 20, May 28, and June 9, which could provide more details on growth plans and AI demand trends. Sandisk Announces Participation in Investor Conferences
• Negative Sentiment: The stock is pulling back after a historic rally, with traders reacting to broader chip-sector weakness, rising Treasury yields, and concerns that the memory trade may be overextended in the near term. SanDisk Stock Cools Off After Historic Rally
• Negative Sentiment: Some articles also point to capacity and valuation concerns, suggesting the stock’s explosive run may face more upside resistance after its massive year-to-date surge. What Is Going On With SanDisk Stock On Tuesday?

Institutional Trading of Sandisk

Several large investors have recently bought and sold shares of SNDK. Osaic Holdings Inc. bought a new stake in Sandisk during the 2nd quarter valued at approximately $317,000. Merit Financial Group LLC bought a new stake in Sandisk during the 3rd quarter valued at approximately $408,000. SG Americas Securities LLC bought a new stake in Sandisk during the 3rd quarter valued at approximately $722,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in Sandisk during the 3rd quarter valued at approximately $514,000. Finally, Evergreen Capital Management LLC bought a new stake in Sandisk during the 3rd quarter valued at approximately $706,000.

Sandisk Stock Performance

The company has a 50-day simple moving average of $914.47 and a two-hundred day simple moving average of $563.86. The firm has a market capitalization of $204.85 billion, a P/E ratio of 48.08 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 earnings per share for the quarter, beating the consensus estimate of $14.17 by $9.24. The business 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 revenue was up 251.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, research analysts forecast that Sandisk Corporation will post 63.58 earnings per share for the current fiscal year.

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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