Sandisk (NASDAQ:SNDK) Trading Up 3.1% - What's Next?

Key Points

• Sandisk shares rose 3.1% on Friday, with trading briefly reaching as high as $1,946.84 before closing at $1,915.92. Volume was lighter than usual, with about 10.3 million shares changing hands versus a 16.5 million average.
• Wall Street sentiment remains broadly bullish, as several analysts raised price targets ahead of Sandisk’s upcoming fiscal Q4 results. Wedbush cited expected earnings upside and strong NAND pricing, while Susquehanna lifted its target to $3,250.
• The stock is benefiting from strong fundamentals and AI-related demand, including reports of a multi-year NAND supply deal with Meta and ongoing tight supply in the NAND market. Sandisk also beat its last quarterly earnings estimates by a wide margin and posted 251% year-over-year revenue growth.

Sandisk Corporation (NASDAQ:SNDK - Get Free Report)'s stock price traded up 3.1% on Friday . The stock traded as high as $1,946.84 and last traded at $1,915.92. Approximately 10,329,805 shares traded hands during trading, a decline of 37% from the average daily volume of 16,456,943 shares. The stock had previously closed at $1,858.27.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Wedbush raised its outlook on Sandisk ahead of the company’s upcoming fiscal Q4 report, citing expected earnings upside and continued strength in NAND pricing. SanDisk Earnings Insights: Wedbush Sees a Big Earnings Beat, Raises Price Target on NAND Pricing Gains
• Positive Sentiment: Analysts and market coverage continue to highlight Sandisk as a beneficiary of tight NAND supply and strong demand, with several pieces calling the stock attractive after the recent reset in memory shares. Sandisk set for earnings upside as Wedbush lifts price target
• Positive Sentiment: Investor sentiment was also boosted by reports that Meta signed a multi-year NAND flash supply deal with Sandisk for AI infrastructure buildout, reinforcing the growth narrative for storage demand. SanDisk (SNDK) Shares Spike 10% on Multi-Year Meta Storage Partnership

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SNDK shares. KGI Securities started coverage on shares of Sandisk in a research note on Wednesday, March 18th. They issued an "outperform" rating and a $992.00 price objective for the company. Morgan Stanley lifted their target price on shares of Sandisk from $1,100.00 to $1,750.00 and gave the company an "overweight" rating in a research note on Wednesday, June 3rd. Evercore reiterated an "outperform" rating and issued a $1,400.00 price target on shares of Sandisk in a research note on Friday, May 1st. Wedbush increased their price target on Sandisk from $740.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Finally, Susquehanna raised their price target on Sandisk from $2,000.00 to $3,250.00 and gave the company a "positive" rating in a report on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Sandisk presently has an average rating of "Moderate Buy" and an average price target of $1,684.24.

Sandisk Stock Up 3.1%

The company has a market capitalization of $283.73 billion, a P/E ratio of 66.59 and a beta of 4.74. The business has a 50 day moving average of $1,709.27 and a 200 day moving average of $990.08.

Sandisk (NASDAQ:SNDK - Get Free Report) last released 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. 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 earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, research analysts anticipate that Sandisk Corporation will post 64.01 EPS for the current year.

Insider Buying and Selling at Sandisk

In other Sandisk news, insider Bernard Shek sold 600 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $2,088.00, for a total transaction of $1,252,800.00. Following the completion of the transaction, the insider owned 31,515 shares in the company, valued at $65,803,320. This trade represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the completion of the transaction, the chief accounting officer directly owned 22,375 shares of the company's stock, valued at $31,910,777.50. The trade was a 9.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 6,225 shares of company stock worth $10,166,297. Company insiders own 0.21% of the company's stock.

Institutional Trading of Sandisk

Several hedge funds have recently made changes to their positions in the business. Valley Wealth Managers Inc. purchased a new position in Sandisk in the first quarter worth about $25,000. Whittier Trust Co. purchased a new stake in Sandisk during the fourth quarter valued at approximately $26,000. Greenline Wealth Management LLC purchased a new stake in Sandisk during the fourth quarter valued at approximately $26,000. Chung Wu Investment Group LLC bought a new stake in shares of Sandisk in the 4th quarter valued at approximately $27,000. Finally, IMG Wealth Management Inc. bought a new stake in shares of Sandisk in the 1st quarter valued at approximately $29,000.

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. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.

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