Susquehanna Forecasts Strong Price Appreciation for Sandisk (NASDAQ:SNDK) Stock

Sandisk (NASDAQ:SNDK) had its price target increased by investment analysts at Susquehanna from $65.00 to $250.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “positive” rating on the data storage provider’s stock. Susquehanna’s price target would suggest a potential upside of 13.95% from the company’s current price.

A number of other brokerages have also commented on SNDK. Morgan Stanley boosted their price target on Sandisk from $96.00 to $230.00 and gave the company an “overweight” rating in a report on Monday. Benchmark lifted their price objective on shares of Sandisk from $85.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Sanford C. Bernstein upgraded Sandisk to a “strong-buy” rating in a report on Tuesday, September 16th. Citigroup lifted their price objective on shares of Sandisk from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Finally, Mizuho upped their target price on shares of Sandisk to $215.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.00.

Sandisk Stock Up 5.6%

Shares of SNDK stock traded up $11.71 during trading hours on Friday, hitting $219.40. 5,034,516 shares of the company were exchanged, compared to its average volume of 4,552,331. Sandisk has a 52 week low of $27.89 and a 52 week high of $226.50. The company has a current ratio of 3.56, a quick ratio of 2.11 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average of $122.53 and a two-hundred day moving average of $69.53. The company has a market capitalization of $32.12 billion and a PE ratio of -378.28.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. CVA Family Office LLC bought a new position in Sandisk in the 3rd quarter valued at about $28,000. Covestor Ltd acquired a new stake in shares of Sandisk in the 3rd quarter valued at $37,000. Cromwell Holdings LLC bought a new position in shares of Sandisk in the 3rd quarter valued at $39,000. True Wealth Design LLC acquired a new position in shares of Sandisk during the 3rd quarter worth $40,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Sandisk in the third quarter valued at about $41,000.

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.