Sandisk (NASDAQ:SNDK) Shares Gap Up – Should You Buy?

Sandisk Corporation (NASDAQ:SNDK) shares gapped up before the market opened on Tuesday . The stock had previously closed at $1,673.97, but opened at $1,807.00. Sandisk shares last traded at $1,740.9590, with a volume of 2,422,536 shares.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Wedbush and other analysts raised their revenue, earnings, and price targets on Sandisk, citing stronger memory pricing trends and bullish expectations ahead of the company’s August 5 earnings report. Wedbush Pounds the Table—Buy Sandisk Before August 5 Earnings
• Positive Sentiment: Evercore ISI reportedly more than doubled its price target to $3,100 while keeping an Outperform rating, reinforcing the view that Wall Street sees additional upside despite recent pullbacks. SanDisk Stock Price Forecast: Why Evercore’s Amit Daryanani Raised SNDK’s Price Target by More Than 120%
• Positive Sentiment: SanDisk was included on Zacks’ “Strong Buy” momentum list and highlighted as a still-cheap tech stock, suggesting momentum traders and value investors are both finding the shares attractive. Best Momentum Stocks to Buy for July 13th
• Neutral Sentiment: Technical-analysis coverage said the stock rebounded after a sharp pullback, but also noted ongoing volatility, which may limit near-term conviction. SanDisk Stock Price Outlook: What Technical Analysis Says Now
• Neutral Sentiment: Broader commentary suggests the recent sell-off across memory stocks may have created a buying opportunity, with AI demand still intact and valuations now looking more reasonable. Why You Must Buy These 4 Memory Stocks After the Recent Sell-Off
• Negative Sentiment: SanDisk and other memory-chip stocks were hit by a sector-wide rout after weak guidance from SK Hynix and broader market stress tied to geopolitical tensions, showing sentiment can still turn quickly against the name. Micron, SanDisk, Western Digital Fall 6% as SK Hynix’s Weak Outlook Rattles Memory Stocks

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SNDK shares. Susquehanna increased their price target on Sandisk from $2,000.00 to $3,250.00 and gave the company a “positive” rating in a research report on Friday, May 29th. Wedbush raised their target price on shares of Sandisk from $1,200.00 to $2,000.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Arete Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. UBS Group set a $1,700.00 price target on shares of Sandisk in a report on Monday, May 4th. Finally, Evercore set a $3,100.00 price objective on shares of Sandisk in a research report on Monday. Two 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’s stock. According to MarketBeat, Sandisk has a consensus rating of “Moderate Buy” and a consensus price target of $1,803.29.

Sandisk Stock Performance

The company has a 50-day moving average price of $1,737.85 and a 200-day moving average price of $1,011.93. The firm has a market capitalization of $260.68 billion, a price-to-earnings ratio of 61.13 and a beta of 4.74.

Sandisk (NASDAQ:SNDK) last issued its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping the consensus estimate 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%.Sandisk’s revenue was up 251.0% on a year-over-year basis. During the same period last year, the business posted ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, research analysts expect that Sandisk Corporation will post 64.95 earnings per share for the current fiscal year.

Insider Activity at Sandisk

In other news, CAO Michael Pokorny sold 2,446 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the completion of the sale, the chief accounting officer owned 22,375 shares in the company, valued at approximately $31,910,777.50. The trade was a 9.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction 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. The trade was a 16.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 6,225 shares of company stock valued at $10,166,297. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. acquired a new position in Sandisk in the second quarter valued at $317,000. Merit Financial Group LLC acquired a new stake in shares of Sandisk during the third quarter worth about $408,000. Dimensional Fund Advisors LP purchased a new stake in shares of Sandisk in the 3rd quarter valued at about $100,080,000. First Trust Advisors LP purchased a new stake in shares of Sandisk in the 3rd quarter valued at about $9,788,000. Finally, Blair William & Co. IL acquired a new stake in shares of Sandisk in the 3rd quarter valued at about $591,000.

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