Sandisk (NASDAQ:SNDK) Sees Large Volume Increase Following Analyst Upgrade

Sandisk Corporation (NASDAQ:SNDK) shares saw an uptick in trading volume on Friday after Citigroup raised their price target on the stock from $150.00 to $280.00. Citigroup currently has a buy rating on the stock. 3,594,849 shares changed hands during mid-day trading, a decline of 21% from the previous session’s volume of 4,551,149 shares.The stock last traded at $216.16 and had previously closed at $207.69.

Several other equities research analysts also recently commented on SNDK. Bank of America upped their price target on shares of Sandisk from $59.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. UBS Group reaffirmed an “overweight” rating and issued a $230.00 target price on shares of Sandisk in a research report on Monday. Wells Fargo & Company upped their price target on Sandisk from $115.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday. Mizuho lifted their target price on Sandisk to $215.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Sandisk in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $170.41.

Institutional Trading of Sandisk

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. bought a new stake in Sandisk in the third quarter worth approximately $1,970,388,000. Parnassus Investments LLC bought a new stake in Sandisk in the third quarter worth $103,815,000. Principal Financial Group Inc. bought a new position in Sandisk during the third quarter valued at about $74,265,000. Public Sector Pension Investment Board bought a new position in Sandisk during the third quarter valued at about $60,415,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Sandisk in the third quarter worth about $45,206,000.

Sandisk Stock Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.11 and a current ratio of 3.56. The company has a market cap of $35.06 billion and a P/E ratio of -412.90. The firm has a 50 day moving average price of $126.31 and a 200-day moving average price of $70.97.

Sandisk (NASDAQ:SNDK) last posted its earnings results on Thursday, November 6th. The data storage provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.64. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.12 billion. The business’s quarterly revenue was up 22.6% on a year-over-year basis. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

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.