Sandisk (NASDAQ:SNDK) Shares Gap Up on Analyst Upgrade

Sandisk Corporation (NASDAQ:SNDK)’s stock price gapped up prior to trading on Friday after Wedbush raised their price target on the stock from $600.00 to $740.00. The stock had previously closed at $539.30, but opened at $651.23. Wedbush currently has an outperform rating on the stock. Sandisk shares last traded at $645.00, with a volume of 7,983,501 shares.

Several other analysts also recently commented on SNDK. Barclays set a $385.00 target price on Sandisk in a research note on Thursday, January 15th. China Renaissance assumed coverage on Sandisk in a research note on Friday, December 5th. They issued a “buy” rating and a $322.00 price objective for the company. 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 report on Wednesday, January 14th. Wells Fargo & Company increased their target price on Sandisk from $230.00 to $380.00 and gave the stock an “equal weight” rating in a report on Thursday, January 15th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Sandisk in a research note on Monday, December 8th. They set a “neutral” rating and a $235.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Sandisk presently has a consensus rating of “Moderate Buy” and an average target price of $490.60.

Insiders Place Their Bets

In other news, Director Necip Sayiner sold 1,271 shares of Sandisk stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $195.14, for a total transaction of $248,022.94. Following the sale, the director directly owned 3,479 shares in the company, valued at $678,892.06. The trade was a 26.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Blowout Q2 results — Sandisk reported a large earnings and revenue beat, driven by AI/data‑center demand and better product mix; the quarter showed sharp profit growth. Sandisk Reports Fiscal Second Quarter 2026 Financial Results
• Positive Sentiment: Blockbuster Q3 guidance — management guided materially above Street expectations for the next quarter (revenue guidance in the ~$4.4–4.8B area and double‑digit EPS guidance), signaling continued AI-driven demand and margin improvement. That guidance is the main driver of the overnight rally. SanDisk (SNDK) Stock: Flash Storage Demand Powers Historic Earnings Surge
• Positive Sentiment: Supply visibility extended — Sandisk and Kioxia extended their Yokkaichi joint‑venture agreement through 2034, securing NAND manufacturing capacity at a crucial time for AI customers. That reduces supply risk and supports upside to revenue and margins. Kioxia and Sandisk Extend Yokkaichi Joint Venture Agreement Through 2034
• Positive Sentiment: Analyst upgrade — Mizuho raised its price target substantially (to $600), citing NAND pricing tailwinds and AI demand, adding institutional momentum behind the move. Mizuho Raises SanDisk (SNDK) PT, Cites Massive NAND Pricing Tailwinds, AI Demand
• Neutral Sentiment: Macro context — broader U.S. futures weakness and market attention around policy headlines are creating a mixed backdrop; SNDK’s move is company‑specific but could be influenced by overall market sentiment. Stock Market Today: Nasdaq, S&P 500 Futures Decline As Investors Await Trump’s New Fed Chair Pick— SanDisk, Deckers, Robinhood In Focus
• Negative Sentiment: Valuation and volatility risk — rapid price gains, heavy options/leveraged activity and an outsized run-up year‑to‑date raise the risk of sharp pullbacks if guidance execution or NAND pricing proves softer than expected. Investors should weigh high short‑term upside versus elevated implied volatility. Sandisk Leverage And Options Activity Reframe Valuation And Volatility Profile

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SNDK. Wealthfront Advisers LLC bought a new stake in Sandisk in the 4th quarter valued at about $437,000. Torren Management LLC purchased a new position in shares of Sandisk in the fourth quarter worth about $37,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Sandisk in the fourth quarter valued at approximately $285,000. Yong Rong HK Asset Management Ltd purchased a new stake in shares of Sandisk during the 4th quarter valued at approximately $5,935,000. Finally, M&T Bank Corp boosted its holdings in Sandisk by 81.9% in the 4th quarter. M&T Bank Corp now owns 6,738 shares of the data storage provider’s stock worth $1,600,000 after buying an additional 3,034 shares during the period.

Sandisk Stock Performance

The company has a market capitalization of $89.23 billion and a P/E ratio of 1,902.78. The company has a current ratio of 3.29, a quick ratio of 2.03 and a debt-to-equity ratio of 0.14. The company’s fifty day moving average is $301.35 and its 200 day moving average is $174.97.

Sandisk (NASDAQ:SNDK) last posted its earnings results on Thursday, November 6th. The data storage provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.64. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.12 billion. The firm’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.

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.