Wells Fargo & Company Forecasts Strong Price Appreciation for Sandisk (NASDAQ:SNDK) Stock

Key Points

• Wells Fargo raised its price target on Sandisk from $115 to $230 but kept an "equal weight" rating, implying roughly a 3.1% downside from the then-current price.
• Sandisk beat Q3 expectations with EPS of $1.22 (vs. $0.58 est.) and revenue of $2.31B (up 22.6% YoY), and the stock surged about 14.2% to $237.28 on heavy volume.
• Analyst sentiment is largely positive — the consensus is a "Moderate Buy" with an average target near $170.41, while several firms have raised targets into the $230–$260 range.

Sandisk (NASDAQ:SNDK - Get Free Report) had its price objective lifted by Wells Fargo & Company from $115.00 to $230.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the data storage provider's stock. Wells Fargo & Company's price objective would suggest a potential downside of 3.07% from the stock's current price.

Several other equities analysts have also recently commented on SNDK. Bank of America increased their price target on shares of Sandisk from $59.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, September 23rd. Mizuho lifted their target price on Sandisk to $215.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 28th. Susquehanna boosted their price target on Sandisk from $65.00 to $250.00 and gave the company a "positive" rating in a report on Friday. UBS Group restated an "overweight" rating and set a $230.00 price objective on shares of Sandisk in a research note on Monday. Finally, Benchmark boosted their target price on shares of Sandisk from $125.00 to $260.00 and gave the company a "buy" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Sandisk presently has an average rating of "Moderate Buy" and an average target price of $170.41.

Sandisk Stock Up 14.2%

Shares of SNDK traded up $29.59 during trading on Friday, reaching $237.28. The company's stock had a trading volume of 18,732,783 shares, compared to its average volume of 4,637,559. The company has a market cap of $34.74 billion and a price-to-earnings ratio of -409.10. The company has a quick ratio of 2.11, a current ratio of 3.56 and a debt-to-equity ratio of 0.20. The company has a fifty day moving average of $122.53 and a two-hundred day moving average of $69.53. Sandisk has a twelve month low of $27.89 and a twelve month high of $237.69.

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

Institutional Investors Weigh In On Sandisk

A number of hedge funds have recently added to or reduced their stakes in the stock. CVA Family Office LLC acquired a new position in shares of Sandisk during the third quarter valued at $28,000. Covestor Ltd acquired a new stake in shares of Sandisk in the 3rd quarter worth about $37,000. Cromwell Holdings LLC bought a new stake in Sandisk in the 3rd quarter valued at about $39,000. True Wealth Design LLC acquired a new position in Sandisk during the 3rd quarter valued at about $40,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Sandisk in the 3rd quarter worth about $41,000.

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.

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