Sandisk (NASDAQ:SNDK) Receives “Outperform” Rating from Wedbush

Sandisk (NASDAQ:SNDK)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a research note issued to investors on Friday,Benzinga reports. They currently have a $2,000.00 target price on the data storage provider’s stock. Wedbush’s price target would suggest a potential upside of 25.64% from the stock’s current price.

A number of other brokerages have also recently commented on SNDK. JPMorgan Chase & Co. reissued an “overweight” rating and set a $2,250.00 target price on shares of Sandisk in a report on Friday. Citigroup reduced their price objective on Sandisk from $2,500.00 to $2,100.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Morgan Stanley upped their target price on shares of Sandisk from $1,100.00 to $1,750.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $2,200.00 price objective on shares of Sandisk in a report on Thursday. Finally, Susquehanna decreased their target price on shares of Sandisk from $3,250.00 to $3,050.00 and set a “positive” rating on the stock in a research note on Thursday, July 23rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Sandisk has a consensus rating of “Buy” and an average target price of $1,983.36.

Sandisk Stock Up 4.2%

SNDK opened at $1,591.82 on Friday. The company has a market cap of $235.73 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 0.13 and a beta of 5.20. Sandisk has a 52-week low of $42.82 and a 52-week high of $2,354.39. The firm’s fifty day simple moving average is $1,666.23 and its two-hundred day simple moving average is $1,177.84.

Sandisk (NASDAQ:SNDK) last released its earnings results on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, topping analysts’ consensus estimates of $33.28 by $5.97. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The business had revenue of $8.96 billion during the quarter. During the same period in the prior year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. On average, research analysts forecast that Sandisk will post 208.92 EPS for the current year.

Sandisk declared that its Board of Directors has approved a share repurchase program on Wednesday, August 5th that permits the company to buyback $14.00 billion in outstanding shares. This buyback authorization permits the data storage provider to purchase up to 6.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Bernard Shek sold 600 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,162.16, for a total transaction of $697,296.00. Following the completion of the sale, the insider directly owned 30,915 shares of the company’s stock, valued at approximately $35,928,176.40. This trade represents a 1.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the sale, the executive vice president directly owned 52,677 shares of the company’s stock, valued at $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,800 shares of company stock valued at $6,504,856 in the last 90 days. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

A number of institutional investors have recently made changes to their positions in the stock. Fiduciary Financial Advisors acquired a new position in shares of Sandisk in the 2nd quarter worth approximately $252,000. Brandywine Managers LLC purchased a new stake in Sandisk in the second quarter valued at approximately $568,000. L2 Asset Management LLC acquired a new position in Sandisk during the second quarter worth $1,810,000. Vega Investment Solutions purchased a new position in shares of Sandisk during the second quarter worth $9,483,000. Finally, Whalen Wealth Management Inc. purchased a new position in shares of Sandisk during the second quarter worth $1,144,000.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Management presented an AI-focused storage roadmap and targets calling for approximately 80% gross margins and 50% free-cash-flow margins. The company also highlighted multi-year customer contracts and tens of billions of dollars in minimum contracted revenue, improving visibility and pricing power. SanDisk Surges 55% From its July Low: Wall Street Just Got a New Roadmap
• Positive Sentiment: Analysts remain broadly bullish. JPMorgan said additional gains may lie ahead despite SNDK’s increase of more than 500% in 2026, while Evercore ISI reiterated a Buy rating and maintained a $2,800 price target. Sandisk is up more than 500% this year. JPMorgan says there are more gains ahead
• Positive Sentiment: A broader semiconductor rebound is supporting the move. Softer-than-expected July producer-price data reduced concerns about near-term Federal Reserve tightening, while the S&P 500 reached a record close and chip stocks approached a new bull market. Soft PPI data makes these three chip stocks worth buying
• Neutral Sentiment: Sandisk’s latest quarter showed exceptional momentum, with revenue up 371.6% year over year and earnings well above estimates. However, the stock’s extreme valuation and beta of 5.20 indicate that expectations and volatility are unusually high.
• Negative Sentiment: Wedbush remains unconvinced that the Investor Day message fully resolves the company’s cyclicality. Bears argue that recent profitability has been driven more by elevated memory prices than by shipment growth, while fixed-price contracts could limit further margin expansion if the supply shortage eases. SanDisk’s investor day was bullish, but Wedbush isn’t completely sold on the message

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.