Sandisk (NASDAQ:SNDK) Trading Down 9.6% - Here's Why

Key Points

• Shares fell about 9.6% intraday to $240.25 from a prior close of $265.88, with roughly 2.73 million shares traded—about 45% below the stock's average daily volume.
• SanDisk beat Q3 estimates with EPS $1.22 vs. $0.58 and revenue of $2.31B (vs. $2.12B), reported 22.6% YoY revenue growth, and set Q2 2026 guidance of $3.00–$3.40 EPS.
• Analyst views are mixed: the consensus is a Moderate Buy with a $183 price target, but individual targets vary widely (Cantor Fitzgerald $300; UBS/Wells Fargo $230) while the stock trades at an extremely high P/E (~765).

Sandisk Corporation (NASDAQ:SNDK - Get Free Report) was down 9.6% during trading on Tuesday . The company traded as low as $239.27 and last traded at $240.25. Approximately 2,728,601 shares were traded during trading, a decline of 45% from the average daily volume of 5,005,181 shares. The stock had previously closed at $265.88.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SNDK shares. Cantor Fitzgerald boosted their target price on Sandisk from $240.00 to $300.00 and gave the stock an "overweight" rating in a report on Friday, November 7th. UBS Group reissued an "overweight" rating and issued a $230.00 price objective on shares of Sandisk in a research note on Monday, November 3rd. Wells Fargo & Company raised their target price on Sandisk from $115.00 to $230.00 and gave the company an "equal weight" rating in a research note on Friday, November 7th. Zacks Research upgraded shares of Sandisk from a "hold" rating to a "strong-buy" rating in a research report on Friday. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Sandisk in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $183.00.

Sandisk Stock Down 7.9%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.03 and a current ratio of 3.29. The stock has a market cap of $35.87 billion and a price-to-earnings ratio of 764.88. The business's 50 day moving average is $151.23 and its 200 day moving average is $81.37.

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 firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.12 billion. Sandisk's quarterly revenue was up 22.6% on a year-over-year basis. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Institutional Investors Weigh In On Sandisk

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Sandisk during the 3rd quarter valued at $1,246,000. Jacobs Levy Equity Management Inc. acquired a new stake in Sandisk in the third quarter valued at approximately $679,000. NewEdge Advisors LLC bought a new stake in Sandisk in the third quarter worth approximately $393,000. Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of Sandisk during the 3rd quarter worth $3,052,000. Finally, XTX Topco Ltd bought a new position in shares of Sandisk during the 3rd quarter valued at $4,468,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.