Sandisk (NASDAQ:SNDK) Stock Price Up 12% – Still a Buy?

Sandisk Corporation (NASDAQ:SNDK)’s share price traded up 12% during mid-day trading on Tuesday . The stock traded as high as $1,418.88 and last traded at $1,406.32. 19,780,637 shares were traded during trading, an increase of 7% from the average session volume of 18,565,447 shares. The stock had previously closed at $1,255.86.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: SanDisk announced it has locked in roughly $42 billion in long?term AI supply deals, which analysts say underpin very high gross margins and justify upside to valuation. SanDisk Surges 10% Past Record Highs After Locking In $42 Billion In AI Deals
• Positive Sentiment: Q3 results were materially stronger than expectations (big EPS beat, strong margins and revenue growth) and management set robust Q4 EPS guidance, supporting investor confidence in earnings power. Sandisk Corporation 2026 Q3 – Results – Earnings Call Presentation
• Positive Sentiment: Tight global NAND supply and rising AI/datacenter demand continue to lift memory names; momentum traders and upgrades from sell?side firms have amplified the rally. Micron Rockets 12%, SanDisk Leaps 10% as Tight Memory Supply Fuels Parabolic AI Trade
• Positive Sentiment: High?profile endorsements and commentary (including Jim Cramer) plus recent analyst target raises have helped drive investor appetite and pushed SNDK to fresh 52?week highs. SanDisk Stock (SNDK) Kicks Off a Memory Rally Following Cramer Comments
• Neutral Sentiment: Coverage notes the company’s rapid ascent since last year’s spin?off (large market cap expansion), which provides context for investor enthusiasm but increases expectations. Sandisk Spun Off From Western Digital Just Last Year. Now It’s a $200B Company.
• Neutral Sentiment: SanDisk is shifting more volume into multi?year NBM contracts to stabilize margins; these reduce volatility but also cap upside from spot price spikes. Sandisk Put A Collar On Itself, For Now
• Negative Sentiment: Several analysts/commentaries warn SNDK is technically overbought and faces short?term downside risk if NAND prices normalize or if investor sentiment cools; some price targets sit below current levels. Sandisk: The Call Was A Warning

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,200.00 price objective on shares of Sandisk in a research report on Friday. Royal Bank Of Canada lifted their price objective on shares of Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a research report on Friday. Morgan Stanley reaffirmed an “overweight” rating and set a $1,100.00 price objective on shares of Sandisk in a research report on Monday, April 27th. KGI Securities assumed coverage on shares of Sandisk in a research report on Wednesday, March 18th. They set an “outperform” rating and a $992.00 price objective for the company. Finally, Wells Fargo & Company lifted their price objective on shares of Sandisk from $975.00 to $1,250.00 and gave the stock an “equal weight” rating in a research report on Friday. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sandisk has an average rating of “Moderate Buy” and a consensus target price of $1,065.81.

Sandisk Trading Up 12.0%

The company has a debt-to-equity ratio of 0.06, a current ratio of 4.78 and a quick ratio of 3.62. The business’s 50 day moving average price is $753.17 and its 200-day moving average price is $474.35. The firm has a market capitalization of $207.57 billion, a price-to-earnings ratio of 48.88 and a beta of 4.82.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The business had revenue of $5.95 billion for the quarter. During the same quarter last year, the firm earned ($0.30) earnings per share. The company’s revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities analysts forecast that Sandisk Corporation will post 47.45 EPS for the current fiscal year.

Insider Activity

In other news, Director Miyuki Suzuki sold 3,500 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total value of $2,196,355.00. Following the completion of the transaction, the director owned 9,907 shares in the company, valued at $6,216,939.71. This trade represents a 26.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Whittier Trust Co. purchased a new position in Sandisk in the fourth quarter valued at about $26,000. Greenline Wealth Management LLC purchased a new position in Sandisk in the fourth quarter valued at about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Sandisk in the third quarter valued at about $27,000. Chung Wu Investment Group LLC purchased a new position in Sandisk in the fourth quarter valued at about $27,000. Finally, CVA Family Office LLC purchased a new position in Sandisk in the third quarter valued at about $28,000.

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.