Sandisk (NASDAQ:SNDK) Given New $980.00 Price Target at Citigroup

Sandisk (NASDAQ:SNDK) had its price objective upped by Citigroup from $875.00 to $980.00 in a report released on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the data storage provider’s stock.

Several other analysts have also recently commented on the company. Cantor Fitzgerald lifted their price target on Sandisk from $800.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. The Goldman Sachs Group lifted their price target on Sandisk from $320.00 to $700.00 and gave the company a “buy” rating in a report on Friday, January 30th. KGI Securities began coverage on Sandisk in a report on Wednesday, March 18th. They issued an “outperform” rating and a $992.00 price objective on the stock. Wedbush raised their price objective on Sandisk from $600.00 to $740.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Sandisk in a report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $684.50.

Sandisk Stock Up 11.8%

SNDK opened at $952.50 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.11 and a quick ratio of 1.92. The stock has a market capitalization of $140.59 billion, a price-to-earnings ratio of -125.49 and a beta of 5.04. The business has a 50-day moving average of $658.09 and a two-hundred day moving average of $396.41. Sandisk has a 12 month low of $28.94 and a 12 month high of $953.41.

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

Insider Activity

In other news, Director Miyuki Suzuki sold 3,500 shares of the stock in a transaction dated 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 completion of the sale, the director owned 9,907 shares in the company, valued at approximately $6,216,939.71. This trade represents a 26.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. acquired a new stake in shares of Sandisk in the third quarter valued at about $1,970,388,000. State Street Corp grew its stake in Sandisk by 20.7% during the 4th quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after purchasing an additional 904,933 shares in the last quarter. Geode Capital Management LLC grew its stake in Sandisk by 44.9% during the 4th quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock valued at $866,310,000 after purchasing an additional 1,133,276 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Sandisk by 31.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock valued at $825,608,000 after purchasing an additional 828,332 shares in the last quarter. Finally, Morgan Stanley grew its stake in Sandisk by 7.2% during the 4th quarter. Morgan Stanley now owns 2,970,361 shares of the data storage provider’s stock valued at $705,105,000 after purchasing an additional 199,545 shares in the last quarter.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Index inclusion: Nasdaq confirmed SNDK will join the Nasdaq‑100 on April 20, a move expected to trigger significant passive fund buying and lift institutional awareness — a primary reason shares are rising this morning. Article Title
• Positive Sentiment: Analyst upgrade / price target lift: Citigroup raised its price target to $980 and kept a Buy rating, supporting investor confidence and adding near‑term upside narrative. Article Title
• Positive Sentiment: Sector tailwinds — AI memory demand & new ETF: Elevated AI data‑center demand and a new DRAM ETF that targets the AI/memory cycle provide thematic flows into memory names like Sandisk. That structural demand story is a key bullish fundamental driver. Article Title
• Neutral Sentiment: Momentum & positioning: Coverage notes SNDK’s enormous run (multi‑thousand percent YTD/12‑month gains) and technical strength — positive for momentum flows but increases sensitivity to profit‑taking and volatility. Article Title
• Neutral Sentiment: Debate on sustainability: Market commentaries question whether AI demand can sustain current valuations; these narratives create two‑sided risk (continued inflows vs. tougher comps/valuation scrutiny). Article Title
• Negative Sentiment: Valuation / cyclicality warning: A Seeking Alpha piece argues Sandisk looks priced for “secular perfection” and highlights cyclicality risk — a reminder that the stock is exposed to demand cycles and could reverse sharply if AI demand or supply dynamics change. Article Title

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. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.