Sandisk (NASDAQ:SNDK) Shares Up 7.5% – Still a Buy?

Sandisk Corporation (NASDAQ:SNDK) shares shot up 7.5% during trading on Tuesday . The stock traded as high as $1,641.74 and last traded at $1,589.55. 12,636,520 shares changed hands during trading, a decline of 30% from the average session volume of 17,991,602 shares. The stock had previously closed at $1,478.69.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Mizuho raised its price target on Sandisk to $1,825 and kept an outperform rating, adding to the recent bullish analyst wave around AI memory and storage stocks.
• Positive Sentiment: Barclays also turned more constructive on Sandisk, lifting its target to $2,300 as it highlighted strong long-term AI storage demand and contract strategy. Benzinga article
• Positive Sentiment: Multiple reports say Sandisk is benefiting from the broader semiconductor rally after Micron’s bullish price action and target upgrades lifted the entire memory sector.
• Positive Sentiment: Traders are also rotating into AI infrastructure and “picks-and-shovels” names, which has helped push Sandisk higher even without a major company-specific catalyst.
• Positive Sentiment: Sandisk was recognized in the 2026 Red Dot Design Awards, providing an additional sentiment boost and helping reinforce the company’s product credibility.
• Neutral Sentiment: Recent short-interest data appears incomplete, showing zero shares reported, so it does not provide a clear read on bearish positioning.

Analysts Set New Price Targets

SNDK has been the topic of several analyst reports. Zacks Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Wedbush boosted their price objective on Sandisk from $740.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Arete Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 13th. Barclays upgraded Sandisk from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $1,200.00 to $2,300.00 in a research note on Tuesday. Finally, Evercore restated an “outperform” rating and issued a $1,400.00 price target on shares of Sandisk in a research note on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $1,234.64.

Sandisk Stock Performance

The stock has a market cap of $243.11 billion, a price-to-earnings ratio of 57.06 and a beta of 4.82. The company has a 50-day moving average of $1,054.51 and a 200-day moving average of $637.32.

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

Insider Activity at Sandisk

In other Sandisk news, Director Necip Sayiner sold 579 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the transaction, the director owned 2,900 shares in the company, valued at approximately $4,359,019. The trade was a 16.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Michael Pokorny sold 2,446 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer owned 22,375 shares in the company, valued at $31,910,777.50. The trade was a 9.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Valley Wealth Managers Inc. acquired a new stake in shares of Sandisk in the 1st quarter worth approximately $25,000. Whittier Trust Co. acquired a new stake in shares of Sandisk in the 4th quarter worth approximately $26,000. Greenline Wealth Management LLC acquired a new stake in shares of Sandisk in the 4th quarter worth approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Sandisk in the 3rd quarter worth approximately $27,000. Finally, Chung Wu Investment Group LLC acquired a new stake in shares of Sandisk in the 4th quarter worth approximately $27,000.

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.