Sandisk (NASDAQ:SNDK) Shares Up 7.5% – Should You Buy?

Sandisk Corporation (NASDAQ:SNDK) shot up 7.5% during mid-day trading on Monday . The company traded as high as $282.80 and last traded at $273.33. 6,168,389 shares traded hands during mid-day trading, an increase of 24% from the average session volume of 4,976,098 shares. The stock had previously closed at $254.16.

Analyst Upgrades and Downgrades

SNDK has been the topic of a number of research reports. Susquehanna boosted their target price on shares of Sandisk from $65.00 to $250.00 and gave the stock a “positive” rating in a report on Friday, November 7th. Wall Street Zen upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a report on Saturday. Cantor Fitzgerald lifted their target price on Sandisk from $240.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Wells Fargo & Company raised their price objective on Sandisk from $115.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Friday, November 7th. Finally, Sanford C. Bernstein raised Sandisk to a “strong-buy” rating in a research note on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Sandisk has an average rating of “Moderate Buy” and an average target price of $183.00.

Sandisk Trading Up 5.5%

The company has a debt-to-equity ratio of 0.14, a current ratio of 3.29 and a quick ratio of 2.03. The stock has a market capitalization of $39.30 billion and a PE ratio of 837.97. The stock’s 50 day simple moving average is $147.28 and its two-hundred day simple moving average is $79.72.

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

Institutional Trading of Sandisk

Large investors have recently modified their holdings of the business. Vanguard Group Inc. bought a new stake in shares of Sandisk during the third quarter valued at approximately $1,970,388,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Sandisk in the 3rd quarter worth approximately $297,293,000. Bank of America Corp DE purchased a new stake in Sandisk in the third quarter worth about $190,425,000. AQR Capital Management LLC purchased a new position in shares of Sandisk during the 3rd quarter valued at about $163,057,000. Finally, Victory Capital Management Inc. purchased a new stake in Sandisk in the 3rd quarter worth approximately $120,363,000.

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.