Sandisk (NASDAQ:SNDK) Shares Gap Up Following Analyst Upgrade

Sandisk Corporation (NASDAQ:SNDK) shares gapped up before the market opened on Friday after Bank of America raised their price target on the stock from $270.00 to $300.00. The stock had previously closed at $195.96, but opened at $205.37. Bank of America currently has a buy rating on the stock. Sandisk shares last traded at $190.55, with a volume of 10,253,024 shares traded.

Several other analysts have also recently weighed in on SNDK. Mizuho boosted their price objective on shares of Sandisk to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Citigroup upped their price target on Sandisk from $150.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Benchmark increased their price target on Sandisk from $125.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Zacks Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. Finally, Barclays upped their target price on Sandisk from $39.00 to $220.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $193.29.

Institutional Trading of Sandisk

Large investors have recently modified their holdings of the stock. Osaic Holdings Inc. acquired a new position in shares of Sandisk during the 2nd quarter valued at $317,000. Corient Private Wealth LLC acquired a new stake in Sandisk in the second quarter worth $353,000. Praxis Investment Management Inc. bought a new stake in Sandisk in the third quarter valued at $533,000. GAMMA Investing LLC acquired a new position in shares of Sandisk during the third quarter valued at about $439,000. Finally, Voya Investment Management LLC bought a new position in shares of Sandisk during the 3rd quarter worth about $8,917,000.

Sandisk Stock Up 2.2%

The company has a current ratio of 3.29, a quick ratio of 2.03 and a debt-to-equity ratio of 0.14. The stock’s 50-day moving average price is $162.99 and its 200-day moving average price is $85.93. The company has a market cap of $29.35 billion and a P/E ratio of 625.84.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Thursday, November 6th. The data storage provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.64. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.12 billion. The firm’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.

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.