Sandisk (NASDAQ:SNDK) Stock Price Expected to Rise, Susquehanna Analyst Says

Sandisk (NASDAQ:SNDK) had its target price boosted by Susquehanna from $65.00 to $250.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “positive” rating on the data storage provider’s stock. Susquehanna’s price target indicates a potential upside of 13.95% from the stock’s current price.

SNDK has been the topic of several other research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $50.00 target price on shares of Sandisk in a research note on Friday, August 15th. Bank of America boosted 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. Mizuho upped 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. Morgan Stanley lifted their target price on shares of Sandisk from $96.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Sanford C. Bernstein raised Sandisk to a “strong-buy” rating in a report on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Sandisk has a consensus rating of “Moderate Buy” and a consensus target price of $131.00.

Sandisk Price Performance

Shares of Sandisk stock traded up $11.71 during midday trading on Friday, hitting $219.40. 5,034,516 shares of the company were exchanged, compared to its average volume of 4,552,331. The firm has a 50 day simple moving average of $122.53 and a 200-day simple moving average of $69.53. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.56 and a quick ratio of 2.11. The firm has a market cap of $32.12 billion and a P/E ratio of -378.28. Sandisk has a 52 week low of $27.89 and a 52 week high of $226.50.

Hedge Funds Weigh In On Sandisk

A number of hedge funds and other institutional investors have recently bought and sold shares of SNDK. Profund Advisors LLC acquired a new position in Sandisk during the third quarter valued at approximately $385,000. Bessemer Group Inc. acquired a new position in shares of Sandisk in the 3rd quarter valued at $114,000. GF Fund Management CO. LTD. bought a new stake in shares of Sandisk in the 3rd quarter valued at $45,206,000. Rhumbline Advisers acquired a new stake in Sandisk during the 3rd quarter worth $37,645,000. Finally, Krilogy Financial LLC bought a new position in Sandisk during the third quarter worth about $321,000.

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.