Sandisk (NASDAQ:SNDK) Shares Up 5.3% – Still a Buy?

Sandisk Corporation (NASDAQ:SNDK) shares shot up 5.3% on Monday . The company traded as high as $1,694.99 and last traded at $1,642.00. 8,110,418 shares were traded during mid-day trading, a decline of 53% from the average session volume of 17,326,029 shares. The stock had previously closed at $1,559.32.

Key Stories Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Bank of America lifted its price target on Sandisk and highlighted robust NAND demand, favorable pricing, and new supply agreements that could support earnings visibility. SanDisk wins big BofA target upgrade as new supply deals shore up earnings visibility
• Positive Sentiment: Analysts have become more optimistic about Sandisk’s position in the expanding NAND market, and the company’s new business model has secured $42 billion in revenue commitments, improving demand visibility. Can SNDK’s New Business Models Reduce Dependence on NAND Volatility?
• Neutral Sentiment: Sandisk also presented at the Mizuho Technology Conference, keeping attention on the company’s strategy and outlook, but no major new financial update was disclosed in the transcript. Sandisk Corporation (SNDK) Presents at Mizuho Technology Conference 2026 Transcript
• Neutral Sentiment: Some commentary says the stock may already be richly valued after a huge year-to-date run, suggesting upside could be more limited if investors turn cautious. Up 500% in 2026: 1 Deeply Concerning Reason to Stand Pat on SanDisk Stock Despite the June Rebound

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SNDK. Barclays raised shares of Sandisk from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $1,200.00 to $2,300.00 in a research report on Tuesday, May 26th. Melius Research set a $2,350.00 price target on shares of Sandisk in a report on Monday, May 18th. Royal Bank Of Canada increased their price target on shares of Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Zacks Research raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Finally, Bank of America increased their price target on shares of Sandisk from $1,550.00 to $2,100.00 and gave the stock a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,580.67.

Sandisk Price Performance

The firm’s 50-day simple moving average is $1,216.02 and its two-hundred day simple moving average is $718.55. The company has a market capitalization of $243.35 billion, a price-to-earnings ratio of 57.12 and a beta of 4.87.

Sandisk (NASDAQ:SNDK) last issued its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping the consensus estimate of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The company had revenue of $5.95 billion for the quarter. During the same quarter in the previous year, the company posted ($0.30) earnings per share. The company’s quarterly 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. On average, analysts expect that Sandisk Corporation will post 64.01 EPS for the current fiscal year.

Insider Buying and Selling at Sandisk

In other news, Director Necip Sayiner sold 579 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total value of $870,300.69. Following the sale, the director directly owned 2,900 shares in the company, valued at $4,359,019. This represents a 16.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michael Pokorny sold 2,446 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the completion of the sale, the chief accounting officer owned 22,375 shares in the company, valued at $31,910,777.50. This represents a 9.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,625 shares of company stock valued at $8,913,497 over the last three months. Company insiders own 0.21% of the company’s stock.

Institutional Trading of Sandisk

Large investors have recently modified their holdings of the business. Valley Wealth Managers Inc. acquired a new stake in shares of Sandisk in the first quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Sandisk in the first quarter valued at approximately $29,000. SOA Wealth Advisors LLC. grew its position in shares of Sandisk by 108.0% in the first quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider’s stock valued at $33,000 after purchasing an additional 27 shares during the last quarter. Cedar Mountain Advisors LLC grew its position in shares of Sandisk by 2,750.0% in the first quarter. Cedar Mountain Advisors LLC now owns 57 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 55 shares during the last quarter. Finally, Roble Belko & Company Inc acquired a new stake in shares of Sandisk in the first quarter valued at approximately $39,000.

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.