Sandisk (NASDAQ:SNDK) Shares Up 16.6% – What’s Next?

Shares of Sandisk Corporation (NASDAQ:SNDK) shot up 16.6% during trading on Friday . The stock traded as high as $1,564.00 and last traded at $1,562.34. 19,988,868 shares were traded during trading, an increase of 7% from the average session volume of 18,609,973 shares. The stock had previously closed at $1,339.96.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Shares are benefiting from the broad AI memory supercycle trade, as investors rotate into SanDisk and Micron on expectations that AI data-center demand will keep memory supply tight and pricing strong. SanDisk Did In Months What Nvidia Took 9 Years To Pull Off — And The Chart Looks Almost Unreal
• Positive Sentiment: Wall Street sentiment remains bullish after Cantor Fitzgerald raised its price target on SanDisk to $1,800 and Goldman Sachs lifted its target to $1,200, reinforcing the view that the stock still has room to run after its strong earnings beat and raised outlook. Why Sandisk Corporation (SNDK) is One of the Top Stock Giants That Were Suddenly On Fire in April Goldman Sachs Raises its Price Target on SanDisk (SNDK) to $1,200
• Positive Sentiment: Analyst chatter and media coverage are increasingly framing SanDisk as a leading beneficiary of AI infrastructure spending, including reports that the company has locked in major AI-related deals and could still nearly double from current levels if the memory boom persists. SanDisk to $2,000: Why This Analyst Is Betting SNDK Stock Can Still Almost Double — And Putting Up the Highest Price Target on Wall Street SanDisk stock surges 10% after locking in $42 billion in AI deals
• Neutral Sentiment: Some commentary suggests the move is getting stretched after an enormous run, with options activity and short-interest concerns signaling that traders may be preparing for volatility even if the longer-term thesis remains intact. Sandisk: The Options Market Is Pricing A Big Selloff (Technical Analysis)
• Negative Sentiment: Near-term pullbacks have been tied to bubble concerns and short-selling pressure, with some investors warning the AI rally may be overheated even as others still see further upside. Why Is SanDisk Stock Falling On Thursday?

Analysts Set New Price Targets

Several brokerages have commented on SNDK. Mizuho set a $1,220.00 target price on shares of Sandisk in a report on Friday, May 1st. Evercore restated an “outperform” rating and set a $1,400.00 target price on shares of Sandisk in a report on Friday, May 1st. Royal Bank Of Canada raised their target price on shares of Sandisk from $650.00 to $1,000.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Wedbush lifted their price objective on shares of Sandisk from $740.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Finally, Sanford C. Bernstein lifted their price objective on shares of Sandisk from $1,250.00 to $1,700.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,065.81.

Sandisk Stock Up 16.6%

The company has a market capitalization of $231.37 billion, a price-to-earnings ratio of 54.30 and a beta of 4.82. The stock’s fifty day moving average price is $797.19 and its 200-day moving average price is $500.60.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a net margin of 34.19% and a return on equity of 44.06%. The company had revenue of $5.95 billion for the quarter. During the same quarter last year, the business earned ($0.30) earnings per share. Sandisk’s revenue for the quarter was up 251.0% on a year-over-year basis. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Analysts anticipate that Sandisk Corporation will post 63.93 EPS for the current year.

Insiders Place Their Bets

In related news, Director Miyuki Suzuki sold 3,500 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total transaction of $2,196,355.00. Following the transaction, the director directly owned 9,907 shares in the company, valued at approximately $6,216,939.71. The trade was a 26.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Sandisk

A number of institutional investors have recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. increased its holdings in Sandisk by 12.0% during the first quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider’s stock worth $77,000 after buying an additional 13 shares during the last quarter. Blair William & Co. IL increased its holdings in Sandisk by 0.3% during the fourth quarter. Blair William & Co. IL now owns 5,287 shares of the data storage provider’s stock worth $1,255,000 after buying an additional 17 shares during the last quarter. Larson Financial Group LLC increased its holdings in Sandisk by 20.2% during the fourth quarter. Larson Financial Group LLC now owns 220 shares of the data storage provider’s stock worth $52,000 after buying an additional 37 shares during the last quarter. Valley Wealth Managers Inc. acquired a new position in Sandisk during the first quarter worth $25,000. Finally, Composition Wealth LLC increased its holdings in Sandisk by 0.4% during the fourth quarter. Composition Wealth LLC now owns 10,299 shares of the data storage provider’s stock worth $2,445,000 after buying an additional 41 shares during the last quarter.

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.