Sandisk (NASDAQ:SNDK) Given Outperform Rating at Wedbush

Sandisk (NASDAQ:SNDK)‘s stock had its “outperform” rating reiterated by Wedbush in a research report issued on Friday, August 14th, Benzinga reports. They currently have a $2,000.00 target price on the data storage provider’s stock. Wedbush’s target price would suggest a potential upside of 17.01% from the stock’s current price.

A number of other analysts have also recently commented on SNDK. Wells Fargo & Company boosted their price target on Sandisk from $1,400.00 to $1,550.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Raymond James Financial reissued an “outperform” rating and issued a $1,470.00 price target on shares of Sandisk in a research report on Friday, May 1st. JPMorgan Chase & Co. assumed coverage on Sandisk in a research report on Friday, August 14th. They issued an “overweight” rating and a $2,250.00 price target on the stock. New Street Research set a $3,000.00 price target on Sandisk in a research report on Thursday, August 6th. Finally, Melius Research set a $2,350.00 price target on Sandisk in a research report on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,113.92.

Sandisk Price Performance

NASDAQ:SNDK traded down $3.62 during mid-day trading on Friday, reaching $1,709.27. 4,239,007 shares of the company’s stock traded hands, compared to its average volume of 15,555,460. Sandisk has a 12-month low of $112.00 and a 12-month high of $2,354.39. The firm has a market capitalization of $250.27 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 0.18 and a beta of 5.17. The company has a 50 day moving average price of $1,530.90 and a 200-day moving average price of $1,413.14.

Sandisk (NASDAQ:SNDK) last posted its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 earnings per share for the quarter, topping analysts’ consensus estimates of $33.28 by $5.97. Sandisk had a return on equity of 87.84% and a net margin of 56.47%.The firm had revenue of $8.97 billion for the quarter. During the same quarter last year, the company posted $0.29 EPS. The firm’s revenue was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. As a group, analysts forecast that Sandisk will post 208.94 EPS for the current year.

Sandisk announced that its Board of Directors has initiated a share buyback program on Wednesday, August 5th that allows the company to repurchase $14.00 billion in shares. This repurchase authorization allows the data storage provider to buy up to 6.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Sandisk news, CEO David Goeckeler sold 33,841 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $1,574.21, for a total value of $53,272,840.61. Following the completion of the sale, the chief executive officer owned 382,865 shares in the company, valued at approximately $602,709,911.65. This represents a 8.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 4,712 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $1,540.58, for a total transaction of $7,259,212.96. Following the transaction, the executive vice president directly owned 44,134 shares of the company’s stock, valued at $67,991,957.72. This trade represents a 9.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 77,899 shares of company stock worth $121,370,958. 0.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Atomic Invest LLC purchased a new stake in Sandisk in the 2nd quarter worth about $25,000. Silicon Valley Capital Partners raised its position in Sandisk by 1,917.6% in the 2nd quarter. Silicon Valley Capital Partners now owns 343 shares of the data storage provider’s stock worth $779,000 after purchasing an additional 326 shares during the period. SkyView Investment Advisors LLC purchased a new stake in Sandisk in the 2nd quarter worth about $455,000. Bouchey Financial Group Ltd. purchased a new stake in Sandisk in the 2nd quarter worth about $296,000. Finally, Capstone Financial Advisors Inc. purchased a new stake in Sandisk in the 2nd quarter worth about $398,000.

More Sandisk News

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: AI optimism supports memory demand. SanDisk and other memory makers rose as investors focused on continued AI infrastructure spending, including reports that Anthropic could pursue a public listing at a valuation exceeding $2 trillion. This reinforces expectations for sustained demand for high-performance storage in data centers. Why are Micron, SK Hynix, and SanDisk stocks gaining on Tuesday?
• Positive Sentiment: Analyst sees further upside. Bernstein analyst Mark Newman reportedly expects SanDisk to rally to a new peak over the next 12 months, even though the company may post its first quarterly loss since the third quarter of 2025. The forecast indicates that long-term AI and storage growth could outweigh near-term earnings pressure. Wall Street analyst sets SanDisk stock price target for 12 months
• Positive Sentiment: The expanded buyback provides support. SanDisk has increased its share-repurchase authorization by $14 billion. Following a dramatic one-year rally and sharply higher sales and profitability, the buyback could bolster earnings per share and signal management confidence in the company’s outlook. Should You Buy SanDisk Stock After Its $14 Billion Buyback Announcement?
• Neutral Sentiment: Micron’s earnings are the next major catalyst. Investors are watching Micron’s September 30 results for evidence about pricing, memory demand and AI-related capacity growth that could influence SanDisk’s valuation and near-term trading. What Micron’s Earnings Could Mean for SNDK
• Negative Sentiment: Cycle and macro risks remain significant. Reports warn that cooling memory-chip demand, elevated oil prices and high Treasury yields could pressure technology valuations. SanDisk’s massive rally has also increased profit-taking risk, while a reversal in NAND pricing could undermine earnings and the buyback’s appeal. SanDisk Could Have a Much Bigger Opportunity Than Investors Expect

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.