Sandisk Corporation (NASDAQ:SNDK) Stock Has Consensus Target Price of $2,120.65 According to Analysts

Shares of Sandisk Corporation (NASDAQ:SNDK) have been given an average rating of “Moderate Buy” by the twenty-eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $2,120.65.

Several brokerages have recently issued reports on SNDK. New Street Research set a $3,000.00 price objective on Sandisk in a research report on Thursday, August 6th. Royal Bank Of Canada raised their target price on Sandisk from $1,300.00 to $1,600.00 and gave the company a “sector perform” rating in a research report on Friday, August 14th. China Renaissance raised their target price on Sandisk from $2,000.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Jefferies Financial Group reaffirmed a “buy” rating and set a $1,400.00 target price (up from $1,000.00) on shares of Sandisk in a research note on Thursday, August 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $2,900.00 target price (up from $1,800.00) on shares of Sandisk in a research note on Monday, August 10th.

Sandisk Stock Down 0.6%

Sandisk stock opened at $1,394.83 on Friday. The firm has a 50-day moving average price of $1,601.86 and a two-hundred day moving average price of $1,498.34. The firm has a market capitalization of $201.59 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 0.14 and a beta of 5.23. Sandisk has a 52-week low of $136.29 and a 52-week high of $2,354.39.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, beating the consensus estimate of $33.28 by $5.97. The company had revenue of $8.96 billion for the quarter. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. Sandisk’s revenue for the quarter was up 371.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 EPS. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Research analysts expect that Sandisk will post 208.94 earnings per share for the current year.

Sandisk declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 5th that authorizes the company to repurchase $14.00 billion in outstanding shares. This repurchase authorization authorizes the data storage provider to purchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk has reportedly secured at least $93.9 billion in expected revenue through multiyear contracts, with financial guarantees that could protect the company if customers fail to meet their commitments. This provides meaningful revenue visibility and supports the long-term investment case. SanDisk Stock Is Falling on AI Fears. Its $93.9 Billion Contract Book Tells Another Story
• Positive Sentiment: Zacks Research upgraded Sandisk to “strong buy” from “hold,” citing the company’s growth prospects. Analysts have also identified Sandisk as a buy-the-dip opportunity because of strong AI-related storage demand and favorable longer-term industry growth. AI Memory Chip Selloff Looks Overblown
• Positive Sentiment: A partnership with Meta Platforms to provide data-storage options for Meta VR Glasses adds a potential avenue for future demand, although it has not prevented the broader sector selloff. SanDisk Stock Drops Despite Meta Partnership
• Neutral Sentiment: Investor Cathie Wood remains cautious on memory-chip companies, arguing that industry cycles are “vicious” and that Chinese rivals could eventually pressure margins. Her view highlights the risk that Sandisk’s recent margin expansion may prove temporary. Cathie Wood Says the Memory Chip Trend Is Up but the Cycles Are Vicious
• Negative Sentiment: Chinese semiconductor maker CXMT’s reported plans to expand into server memory have intensified fears of future oversupply, lower pricing, and weaker margins for Sandisk and its peers. Memory Stocks Extend Selloff on China Competition Fears
• Negative Sentiment: A broad technology and AI-stock selloff has pulled memory makers lower, with roughly $1 trillion in market value reportedly erased from major companies since October 2. Hotter-than-expected U.S. inflation has added pressure by increasing interest-rate concerns. Chip Meltdown Hits Memory Makers

Insider Activity at Sandisk

In related news, EVP Alper Ilkbahar sold 4,712 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $1,540.58, for a total value of $7,259,212.96. Following the sale, the executive vice president directly owned 44,134 shares in the company, valued at $67,991,957.72. The trade was a 9.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bernard Shek sold 2,308 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $1,767.33, for a total transaction of $4,078,997.64. Following the sale, the insider directly owned 25,305 shares of the company’s stock, valued at approximately $44,722,285.65. This represents a 8.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 77,899 shares of company stock valued at $121,159,122. Insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Sandisk during the 2nd quarter valued at $23,408,732,000. Situational Awareness LP boosted its stake in shares of Sandisk by 42.4% during the 2nd quarter. Situational Awareness LP now owns 2,495,344 shares of the data storage provider’s stock worth $5,673,739,000 after acquiring an additional 743,325 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Sandisk by 71.2% in the 2nd quarter. Wellington Management Group LLP now owns 1,066,886 shares of the data storage provider’s stock worth $2,425,811,000 after acquiring an additional 443,714 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Sandisk by 57.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 726,722 shares of the data storage provider’s stock worth $1,652,370,000 after acquiring an additional 264,935 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Sandisk in the 2nd quarter worth $1,621,353,000.

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. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.