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

Sandisk Corporation (NASDAQ:SNDK) shares were up 3.8% 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. Approximately 13,147,848 shares changed hands during trading, a decline of 28% from the average daily volume of 18,259,074 shares. The stock had previously closed at $1,333.01.

A number of other brokerages have also weighed in on SNDK. Zacks Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Cantor Fitzgerald boosted their target price on shares of Sandisk from $1,400.00 to $1,800.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Evercore reiterated an “outperform” rating and set a $1,400.00 target price on shares of Sandisk in a research note on Friday, May 1st. Wells Fargo & Company upped their price objective on Sandisk from $975.00 to $1,250.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Finally, Morgan Stanley restated an “overweight” rating and issued a $1,100.00 price objective on shares of Sandisk in a research note on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,157.14.

Insider Transactions at Sandisk

In related news, Director Necip Sayiner sold 579 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total value of $870,300.69. Following the completion of the transaction, the director owned 2,900 shares of the company’s stock, valued at approximately $4,359,019. This represents a 16.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Michael Pokorny sold 2,446 shares of the company’s 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. This represents a 9.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,525 shares of company stock worth $6,555,092 in the last three months. Corporate insiders own 0.21% of the company’s stock.

Key Headlines Impacting Sandisk

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 Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. bought a new position in shares of Sandisk during the 3rd quarter valued at about $1,970,388,000. State Street Corp lifted its holdings in shares of Sandisk by 20.7% in the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after acquiring an additional 904,933 shares during the last quarter. Geode Capital Management LLC raised its position in Sandisk by 44.9% in the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock worth $866,310,000 after purchasing an additional 1,133,276 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Sandisk by 31.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after purchasing an additional 828,332 shares during the period. Finally, Morgan Stanley raised its position in Sandisk by 7.2% in the 4th quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock worth $705,105,000 after purchasing an additional 199,545 shares during the period.

Sandisk Price Performance

The firm has a market capitalization of $204.85 billion, a PE ratio of 48.08 and a beta of 4.82. The stock’s 50-day moving average price is $914.47 and its 200 day moving average price is $563.86.

Sandisk (NASDAQ:SNDK) last issued its earnings results on Thursday, April 30th. The data storage provider reported $23.41 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 net margin of 34.19% and a return on equity of 44.06%. The business’s revenue was up 251.0% compared to the same quarter last year. During the same period last year, the business posted ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities 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.