Sandisk (NASDAQ:SNDK) Trading 7.5% Higher Following Analyst Upgrade

Sandisk Corporation (NASDAQ:SNDK) traded up 7.5% during mid-day trading on Monday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $282.80 and last traded at $273.33. 6,168,389 shares changed hands during mid-day trading, an increase of 24% from the average session volume of 4,976,098 shares. The stock had previously closed at $254.16.

A number of other equities analysts also recently commented on SNDK. UBS Group reaffirmed an “overweight” rating and set a $230.00 price objective on shares of Sandisk in a report on Monday, November 3rd. Bank of America increased their price target on shares of Sandisk from $59.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Wells Fargo & Company lifted their price objective on Sandisk from $115.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday, November 7th. Sanford C. Bernstein upgraded Sandisk to a “strong-buy” rating in a research note on Tuesday, September 16th. Finally, Citigroup lifted their target price on shares of Sandisk from $150.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sandisk has a consensus rating of “Moderate Buy” and an average target price of $183.00.

Institutional Trading of Sandisk

Large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new position in Sandisk in the third quarter valued at approximately $494,000. Advisory Services Network LLC acquired a new position in Sandisk in the 3rd quarter worth $70,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Sandisk in the 3rd quarter worth $1,246,000. Jacobs Levy Equity Management Inc. bought a new position in Sandisk during the 3rd quarter worth about $679,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Sandisk in the third quarter valued at about $393,000.

Sandisk Stock Up 1.9%

The company has a debt-to-equity ratio of 0.14, a current ratio of 3.29 and a quick ratio of 2.03. The company has a market capitalization of $36.56 billion and a price-to-earnings ratio of 779.59. The firm has a 50-day moving average price of $154.72 and a two-hundred day moving average price of $82.86.

Sandisk (NASDAQ:SNDK) last released its earnings results on Thursday, November 6th. The data storage provider reported $1.22 EPS for the quarter, beating the consensus estimate of $0.58 by $0.64. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.12 billion. The business’s revenue for the quarter 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.