Sandisk (NASDAQ:SNDK) Stock Price Up 7.4% – Still a Buy?

Sandisk Corporation (NASDAQ:SNDK)’s stock price traded up 7.4% during mid-day trading on Wednesday . The company traded as high as $486.69 and last traded at $486.50. 12,658,809 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 15,162,025 shares. The stock had previously closed at $453.12.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI-driven demand + supply shock: Institutional rotation into storage and a shortage of standard NAND/DRAM capacity are giving SanDisk pricing power and margin upside, supporting a strong revenue/earnings outlook. Forget the Chips, Buy Memory: Why AI Money Is Moving to Storage
• Positive Sentiment: Major analyst upgrades and big price‑target raises (including a recent 75% uplift from one shop and Citi raising its target) are helping momentum and credibility among institutional buyers. SanDisk (SNDK) Hits All-Time High on 75% Price Target Upgrade
• Positive Sentiment: Fundamentals and guidance backdrop: SanDisk beat on Q3 results last quarter and set strong Q2 guidance, and investors expect continued upside into the next report — a bullish near‑term catalyst. SanDisk Stock Soars to Record High Ahead of Q2 Earnings
• Positive Sentiment: Technical breakout / momentum: Chart patterns (pennant breakout) and heavy volume have driven all‑time highs, attracting momentum traders and lifting liquidity. SNDK Price Forecast: SanDisk Pennant Breakout Fuels Powerful Uptrend
• Neutral Sentiment: Celebrity / media attention: High‑profile bullish mentions (e.g., Jim Cramer) increase retail/inflow interest but are not a fundamental guarantee. Jim Cramer Says AI Stocks Micron and Sandisk Can Go Even Higher
• Neutral Sentiment: Upcoming earnings = binary catalyst: The next print (late January) could reinforce the rally if numbers and guidance beat, or prompt a sharp rotation if not. SanDisk (SNDK) Stock: This 1,100% Winner Just Hit Another All-Time High
• Negative Sentiment: Overbought / technical risk: Several technical commentators warn the rally is very extended and overbought, increasing the odds of a sharp pullback or consolidation. Stock Of The Day: When Will The SanDisk Rally End?
• Negative Sentiment: Steep valuation and concentration risk: The rapid multi‑month surge has pushed valuation metrics to extremes vs. fundamentals, raising downside risk if demand or pricing normalizes. This Stock Has Had the Best 2026 In the S&P 500. It Just Got Another Boost.

Wall Street Analyst Weigh In

SNDK has been the subject of several recent research reports. Barclays set a $385.00 price objective on Sandisk in a research note on Thursday, January 15th. JPMorgan Chase & Co. began coverage on shares of Sandisk in a research note on Monday, December 8th. They issued a “neutral” rating and a $235.00 price objective for the company. China Renaissance started coverage on Sandisk in a report on Friday, December 5th. They issued a “buy” rating and a $322.00 price target for the company. Wedbush lifted their price target on Sandisk from $220.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Finally, Citigroup increased their price objective on Sandisk from $280.00 to $490.00 and gave the stock a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $327.89.

Sandisk Stock Performance

The company’s fifty day simple moving average is $266.07 and its 200 day simple moving average is $154.42. The stock has a market capitalization of $73.46 billion and a P/E ratio of 1,566.53. 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) last released its quarterly earnings results on Thursday, November 6th. The data storage provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.64. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.12 billion. The firm’s quarterly 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.

Insider Buying and Selling at Sandisk

In other news, Director Necip Sayiner sold 1,271 shares of Sandisk stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total transaction of $248,022.94. Following the completion of the sale, the director owned 3,479 shares in the company, valued at approximately $678,892.06. This trade represents a 26.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sandisk

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. purchased a new position in Sandisk in the third quarter worth $1,970,388,000. State Street Corp purchased a new stake in Sandisk in the third quarter worth approximately $491,053,000. Arrowstreet Capital Limited Partnership purchased a new stake in Sandisk in the third quarter worth approximately $297,293,000. Bank of America Corp DE bought a new position in Sandisk during the third quarter valued at approximately $190,425,000. Finally, AQR Capital Management LLC purchased a new position in shares of Sandisk during the third quarter worth approximately $163,057,000.

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.