Sandisk (NASDAQ:SNDK) Shares Gap Up – What’s Next?

Shares of Sandisk Corporation (NASDAQ:SNDK) gapped up before the market opened on Thursday . The stock had previously closed at $1,914.46, but opened at $2,238.31. Sandisk shares last traded at $2,162.6330, with a volume of 3,356,502 shares.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Citi raised its price target on Sandisk to $2,500 from $2,025 and reiterated a Buy rating, signaling continued Wall Street confidence in the stock’s upside. Wall Street sets Sandisk stock price target
• Positive Sentiment: Micron’s stronger-than-expected quarterly report and upbeat outlook boosted sentiment across memory-chip names, helping reinforce the AI storage trade that also benefits Sandisk. Micron’s Blowout Q3 Report Ripples Through Memory Stocks SanDisk, Western Digital
• Positive Sentiment: Commentary around AI infrastructure demand and Apple’s warning about rising memory costs suggests tightening supply and improving pricing power for memory suppliers like Sandisk. Apple Just Handed These 4 Memory Stocks Their Best News of the Year
• Neutral Sentiment: Some analysts argue that Sandisk has already rallied sharply, making the stock more vulnerable to pullbacks even as the AI-memory story stays intact. Micron Vs. Western Digital Vs. SanDisk: Which AI Memory Stock Looks Best After Massive 2026 Rallies?
• Neutral Sentiment: One comparative analysis favored Dell as a broader AI infrastructure play, but it still acknowledged Sandisk as part of the same benefiting memory sector. SNDK vs. DELL: Which AI Infrastructure Stock is the Better Buy?

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Morgan Stanley upped their price objective on Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. Barclays raised Sandisk from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $1,200.00 to $2,300.00 in a research report on Tuesday, May 26th. Arete Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 13th. The Goldman Sachs Group reiterated a “buy” rating and set a $1,200.00 price target on shares of Sandisk in a research note on Friday, May 1st. Finally, UBS Group set a $1,700.00 price objective on Sandisk in a report on Monday, May 4th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,580.67.

Sandisk Price Performance

The stock has a market capitalization of $328.31 billion, a P/E ratio of 77.14 and a beta of 4.87. The stock has a fifty day moving average price of $1,494.22 and a 200 day moving average price of $857.75.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.17 by $9.24. The company 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 for the quarter was up 251.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Research analysts anticipate that Sandisk Corporation will post 64.01 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Michael Pokorny sold 2,446 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the sale, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at approximately $31,910,777.50. This represents a 9.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the completion of the transaction, the executive vice president owned 52,677 shares of the company’s stock, valued at $92,531,364.66. This trade represents a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,625 shares of company stock worth $8,913,497 over the last quarter. 0.21% of the stock is owned by corporate insiders.

Institutional Trading of Sandisk

Several institutional investors and hedge funds have recently bought and sold shares of the company. Valley Wealth Managers Inc. purchased a new position in shares of Sandisk during the 1st quarter valued at $25,000. Whittier Trust Co. bought a new position in shares of Sandisk in the fourth quarter worth approximately $26,000. Greenline Wealth Management LLC bought a new position in shares of Sandisk in the fourth quarter worth approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Sandisk in the third quarter valued at approximately $27,000. Finally, Chung Wu Investment Group LLC purchased a new stake in Sandisk in the fourth quarter valued at approximately $27,000.

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.