Sandisk (NASDAQ:SNDK) Shares Gap Up – Here’s Why

Sandisk Corporation (NASDAQ:SNDK)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $215.04, but opened at $225.25. Sandisk shares last traded at $215.16, with a volume of 5,780,558 shares traded.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wall Street Zen upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 15th. UBS Group reissued an “overweight” rating and issued a $230.00 price objective on shares of Sandisk in a report on Monday, November 3rd. Barclays boosted their price objective on Sandisk from $39.00 to $220.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Morgan Stanley upped their price objective on shares of Sandisk from $263.00 to $273.00 and gave the company an “overweight” rating in a report on Monday. Finally, Benchmark increased their target price on shares of Sandisk from $125.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $193.88.

Sandisk Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.03 and a current ratio of 3.29. The company has a market capitalization of $32.72 billion and a P/E ratio of 697.66. The business has a 50 day moving average of $173.30 and a 200-day moving average of $91.06.

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

Hedge Funds Weigh In On Sandisk

Several hedge funds have recently bought and sold shares of SNDK. CIBC Private Wealth Group LLC bought a new stake in Sandisk during the 3rd quarter worth approximately $159,000. WBI Investments LLC bought a new position in Sandisk in the 3rd quarter valued at $448,000. Caerus Investment Advisors LLC purchased a new position in shares of Sandisk during the 3rd quarter valued at $308,000. Captrust Financial Advisors bought a new position in shares of Sandisk in the third quarter worth $1,542,000. Finally, Coldstream Capital Management Inc. bought a new position in shares of Sandisk in the third quarter worth $247,000.

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.