Sandisk (NASDAQ:SNDK) Shares Up 6% – Still a Buy?

Sandisk Corporation (NASDAQ:SNDK) traded up 6% on Wednesday . The stock traded as high as $607.48 and last traded at $599.06. 15,452,571 shares were traded during mid-day trading, a decline of 22% from the average session volume of 19,910,666 shares. The stock had previously closed at $565.41.

Key Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analyst bullish case — A Seeking Alpha upgrade lays out a path to $1,000 based on 2027 EPS forecasts, reinforcing a large upside thesis driven by improving NAND pricing and AI/enterprise demand. Sandisk: I See A Path To $1000 Based On 2027 EPS Forecasts (Rating Upgrade)
• Positive Sentiment: Macro/industry momentum — Coverage (Yahoo Finance) discusses whether the multi-month rally can continue into 2026, citing tight memory supply, strong NAND fundamentals and investor appetite for AI-exposed names as drivers. SanDisk Stock Forecast: Can the Rally Continue Into 2026?
• Positive Sentiment: AI/product partnership tailwinds — Reports note SanDisk and SK Hynix targeting AI with high‑bandwidth flash products, supporting secular demand beyond consumer cycles. This strengthens the company’s growth/sentiment story. Sandisk And SK Hynix Target AI Growth With High Bandwidth Flash
• Neutral Sentiment: Conference transcript — SanDisk’s Morgan Stanley presentation (transcript) offers management color on strategy and end‑market exposure; useful for checking guidance tone but not an immediate catalyst. Sandisk Corporation (SNDK) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript
• Neutral Sentiment: Analyst/idea lists — Zacks includes SNDK among five growth picks for March, reflecting continued analyst interest but not a unique catalyst. 5 Growth Stocks to Buy in March Despite Global Economic Turbulence
• Negative Sentiment: Geopolitical risk hit — Memory names, including SanDisk, plunged on an early‑week risk‑off move tied to Middle East tensions and higher energy costs, which pressured sentiment and drove a short‑term selloff. Memory Chip Stocks Micron (MU) and SanDisk (SNDK) Plunge as Geopolitical Tensions Spike
• Negative Sentiment: Bearish notes and short‑seller risk — Citron and other short narratives warn the rally is hype that “could vanish in a single earnings call,” emphasizing NAND cycle vulnerability and valuation risk. Sandisk Stock Hype Could ‘Vanish in a Single Earnings Call’ According to Citron Research. Is It Time to Ditch SNDK Here?
• Negative Sentiment: Supply/overhang & investor selling — Analysis highlights broader memory‑cycle worries, secondary share activity tied to Western Digital’s remaining stake, and recent insider/institutional sells that can add pressure during risk‑off periods. SanDisk slides as chip stocks fall with global risk-off sentiment, lingering memory-cycle worries
• Negative Sentiment: Near‑term volatility theme — Multiple outlets (Benzinga, others) flag that memory sector selloffs tied to macro shocks and oil/inflation scares can quickly drive down high‑beta positions like SNDK. Sandisk Dips Amid Memory Stock Selloff: What’s Going On?

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SNDK. Royal Bank Of Canada restated a “sector perform” rating and set a $650.00 target price on shares of Sandisk in a report on Friday, January 30th. Bank of America upped their price objective on shares of Sandisk from $300.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Raymond James Financial raised shares of Sandisk from a “market perform” rating to an “outperform” rating and set a $725.00 target price for the company in a research report on Friday, January 30th. Fox Advisors upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Finally, Zacks Research upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $542.85.

Sandisk Trading Up 6.0%

The stock’s fifty day moving average price is $484.06 and its 200 day moving average price is $269.68. The stock has a market cap of $88.42 billion and a P/E ratio of -78.93. The company has a current ratio of 3.11, a quick ratio of 1.92 and a debt-to-equity ratio of 0.06.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings results on Thursday, January 29th. The data storage provider reported $6.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $2.67 billion. Sandisk’s revenue was up 61.2% on a year-over-year basis.

Insider Activity

In other news, Director Miyuki Suzuki sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $627.53, for a total value of $2,196,355.00. Following the sale, the director directly owned 9,907 shares of the company’s stock, valued at $6,216,939.71. The trade was a 26.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

Hedge funds have recently added to or reduced their stakes in the stock. Whittier Trust Co. bought a new position in shares of Sandisk during the fourth quarter valued at $26,000. Greenline Wealth Management LLC purchased a new stake in Sandisk during the 4th quarter valued at about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Sandisk during the 3rd quarter valued at about $27,000. Chung Wu Investment Group LLC purchased a new position in Sandisk in the fourth quarter worth about $27,000. Finally, CVA Family Office LLC bought a new position in shares of Sandisk in the third quarter worth approximately $28,000.

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.