Mizuho Increases Sandisk (NASDAQ:SNDK) Price Target to $1,825.00

Sandisk (NASDAQ:SNDK) had its price objective raised by equities researchers at Mizuho from $1,625.00 to $1,825.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the data storage provider’s stock. Mizuho’s price target would suggest a potential upside of 14.78% from the company’s current price.

Other equities research analysts have also issued reports about the company. Arete Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. UBS Group set a $1,700.00 price objective on Sandisk in a research note on Monday, May 4th. KGI Securities assumed coverage on Sandisk in a research note on Wednesday, March 18th. They set an “outperform” rating and a $992.00 price objective for the company. Citigroup raised their price objective on Sandisk from $1,300.00 to $2,025.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Finally, Wall Street Zen raised Sandisk from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 31st. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Sandisk has a consensus rating of “Buy” and an average price target of $1,234.64.

Sandisk Price Performance

SNDK opened at $1,589.94 on Thursday. Sandisk has a 12 month low of $36.21 and a 12 month high of $1,658.77. The stock has a market cap of $235.45 billion, a P/E ratio of 55.26 and a beta of 4.82. The stock’s 50 day moving average price is $1,036.08 and its 200 day moving average price is $627.45.

Sandisk (NASDAQ:SNDK) last posted its earnings results on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, beating the consensus estimate of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The firm had revenue of $5.95 billion for the quarter. During the same quarter in the prior year, the business earned ($0.30) earnings per share. The firm’s revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities analysts anticipate that Sandisk will post 63.58 EPS for the current year.

Insider Activity

In other news, Director Necip Sayiner sold 579 shares of Sandisk stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total value of $870,300.69. Following the transaction, the director directly owned 2,900 shares in the company, valued at approximately $4,359,019. The trade was a 16.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Michael Pokorny sold 2,446 shares of Sandisk stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the sale, the chief accounting officer directly owned 22,375 shares in the company, valued at approximately $31,910,777.50. This trade represents a 9.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sandisk

A number of institutional investors have recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. bought a new position in shares of Sandisk in the first quarter valued at approximately $25,000. IMG Wealth Management Inc. bought a new position in shares of Sandisk in the first quarter valued at approximately $29,000. SOA Wealth Advisors LLC. raised its stake in shares of Sandisk by 108.0% in the first quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider’s stock valued at $33,000 after acquiring an additional 27 shares during the last quarter. Cedar Mountain Advisors LLC raised its stake in shares of Sandisk by 2,750.0% in the first quarter. Cedar Mountain Advisors LLC now owns 57 shares of the data storage provider’s stock valued at $36,000 after acquiring an additional 55 shares during the last quarter. Finally, Roble Belko & Company Inc bought a new position in shares of Sandisk in the first quarter valued at approximately $39,000.

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.