Sandisk (NASDAQ:SNDK) Trading Up 2.4% After Analyst Upgrade

Shares of Sandisk Corporation (NASDAQ:SNDK) shot up 2.4% during mid-day trading on Thursday after Citigroup raised their price target on the stock from $750.00 to $875.00. Citigroup currently has a buy rating on the stock. Sandisk traded as high as $776.00 and last traded at $772.09. 20,939,644 shares traded hands during mid-day trading, an increase of 7% from the average session volume of 19,527,795 shares. The stock had previously closed at $753.69.

A number of other research firms have also commented on SNDK. Mizuho set a $600.00 target price on Sandisk in a report on Tuesday, January 27th. Barclays increased their price objective on Sandisk from $385.00 to $750.00 and gave the company an “equal weight” rating in a research report on Monday, February 2nd. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $650.00 price objective on shares of Sandisk in a report on Friday, January 30th. JPMorgan Chase & Co. initiated coverage on Sandisk in a research report on Monday, December 8th. They issued a “neutral” rating and a $235.00 target price for the company. Finally, Morgan Stanley set a $690.00 target price on shares of Sandisk in a research note on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $570.19.

Insiders Place Their Bets

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

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Citigroup raised its price target to $875 and maintained a Buy rating, signaling more analyst conviction and providing explicit upside for investors. Citigroup Raises PT
• Positive Sentiment: KGI Securities initiated coverage with an Outperform and a $992 price target, adding another high-profile bullish voice that can attract momentum buyers and institutions. KGI Initiates Coverage
• Positive Sentiment: Fundamentals remain supportive: recent quarterly results beat estimates, revenue is growing strongly on AI-driven storage demand, and analysts highlight margin expansion and multi-year contracts — a narrative that underpins higher valuations. Seeking Alpha: AI Demand
• Positive Sentiment: Technical and market signals are bullish: SNDK recently printed a golden-cross pattern that often attracts momentum traders and analysts pointing to further upside by mid-year. Golden Cross Article
• Positive Sentiment: Institutional buying and large-money inflows have been reported, which can sustain rallies and reduce the chance of a quick reversal. Institutional Flows
• Neutral Sentiment: Media speculation that SanDisk could be a candidate for a stock split is circulating — this can boost retail interest but is speculative until company action is announced. Stock Split Speculation
• Negative Sentiment: A pre-market drop was reported (around 5% in early trading), reflecting short-term profit-taking and higher intraday volatility after recent record highs. That intraday weakness can create swing-trade risk even as the longer-term trend remains up. Pre-market Dip

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Whittier Trust Co. purchased a new stake in Sandisk in the 4th quarter worth approximately $26,000. Greenline Wealth Management LLC bought a new stake in Sandisk during the 4th quarter worth approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Sandisk during the third quarter valued at approximately $27,000. Chung Wu Investment Group LLC purchased a new position in Sandisk during the fourth quarter valued at approximately $27,000. Finally, CVA Family Office LLC bought a new position in shares of Sandisk in the third quarter worth approximately $28,000.

Sandisk Trading Up 2.4%

The stock’s 50 day moving average price is $565.08 and its 200-day moving average price is $313.59. The company has a quick ratio of 1.92, a current ratio of 3.11 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $113.96 billion and a PE ratio of -101.72.

Sandisk (NASDAQ:SNDK) last released its earnings results on Thursday, January 29th. The data storage provider reported $6.20 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $2.89. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Sandisk had a negative net margin of 11.66% and a positive return on equity of 10.11%. The company’s revenue for the quarter was up 61.2% on a year-over-year basis.

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.