Sandisk (NASDAQ:SNDK) Trading 15.4% Higher After Analyst Upgrade

Sandisk Corporation (NASDAQ:SNDK)’s stock price shot up 15.4% on Monday after Citigroup raised their price target on the stock from $490.00 to $750.00. Citigroup currently has a buy rating on the stock. Sandisk traded as high as $674.00 and last traded at $665.24. 27,998,593 shares changed hands during trading, an increase of 54% from the average session volume of 18,219,355 shares. The stock had previously closed at $576.25.

SNDK has been the topic of a number of other reports. Barclays increased their price objective on shares of Sandisk from $385.00 to $750.00 and gave the stock an “equal weight” rating in a research note on Monday. Bank of America increased their price target on shares of Sandisk from $300.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Wedbush boosted their price objective on shares of Sandisk from $600.00 to $740.00 and gave the company an “outperform” rating in a research report on Friday. Sanford C. Bernstein upped their target price on Sandisk from $300.00 to $580.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 14th. Finally, Benchmark lifted their price target on Sandisk from $260.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sandisk presently has an average rating of “Moderate Buy” and a consensus target price of $542.85.

Insider Transactions at Sandisk

In other Sandisk news, Director Necip Sayiner sold 1,271 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total value of $248,022.94. Following the completion of the transaction, the director directly owned 3,479 shares in the company, valued at approximately $678,892.06. This trade represents a 26.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by insiders.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Citigroup raised its price target on SNDK to $750 and reiterated a Buy rating, citing the company’s strong quarter and durable NAND demand. Citigroup Raises PT to $750 (Benzinga)
• Positive Sentiment: SanDisk’s shares are rallying on continued momentum from last week’s earnings beat — investors are rewarding the company’s outsized revenue and profit gains. SanDisk Stock Continues To Surge (Benzinga)
• Positive Sentiment: Multiple outlets and analysts have pushed targets higher (another reported raise to ~$740 and a Wall Street median near $690), reinforcing a consensus that SNDK still has significant upside. Price Target Raised to $740 (AmericanBankingNews)
• Positive Sentiment: Longer-term bullish commentary (including pieces forecasting $1,000 targets) highlights sentiment that SNDK is a high-margin NAND/SSD leader benefiting from AI infrastructure demand. Wall Street Sees SanDisk Hitting $1,000 (247wallst)
• Positive Sentiment: Analysis arguing structural NAND demand from edge AI and decentralized inference supports sustainably higher margins and growth, providing a fundamental rationale for the rally. Smart Money Is Moving To Sandisk (Seeking Alpha)
• Positive Sentiment: News coverage notes another sizable intraday gain as momentum builds following the earnings print and fresh analyst optimism. Stock Rockets Another 16% (Invezz)
• Neutral Sentiment: Investor anecdotes (e.g., notable portfolio gains by public figures) highlight retail/attention-driven interest but have limited standalone informational value. Investor Anecdote: TipRanks (Hikaru Nakamura)

Hedge Funds Weigh In On Sandisk

A number of hedge funds have recently modified their holdings of the business. Whittier Trust Co. acquired a new stake in Sandisk in the fourth quarter valued at $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Sandisk in the 3rd quarter valued at about $27,000. Chung Wu Investment Group LLC acquired a new stake in shares of Sandisk in the fourth quarter valued at about $27,000. CVA Family Office LLC bought a new position in shares of Sandisk during the third quarter worth about $28,000. Finally, Westfuller Advisors LLC lifted its stake in shares of Sandisk by 51.8% in the fourth quarter. Westfuller Advisors LLC now owns 126 shares of the data storage provider’s stock worth $30,000 after acquiring an additional 43 shares during the period.

Sandisk Price Performance

The company has a current ratio of 3.11, a quick ratio of 1.92 and a debt-to-equity ratio of 0.06. The business’s 50-day simple moving average is $308.87 and its two-hundred day simple moving average is $179.60. The firm has a market cap of $97.49 billion and a price-to-earnings ratio of -87.65.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Thursday, January 29th. The data storage provider reported $6.20 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $2.89. Sandisk had a negative net margin of 11.66% and a positive return on equity of 10.11%. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.67 billion. Sandisk’s quarterly revenue was up 61.2% on a year-over-year basis.

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.