Sandisk (NASDAQ:SNDK) Shares Up 7.4% – What’s Next?

Sandisk Corporation (NASDAQ:SNDK)’s stock price shot up 7.4% during trading on Friday . The stock traded as high as $228.99 and last traded at $228.99. 6,717,266 shares were traded during trading, an increase of 17% from the average session volume of 5,728,988 shares. The stock had previously closed at $213.31.

Analyst Ratings Changes

Several analysts have issued reports on SNDK shares. Wedbush upped their price target on shares of Sandisk from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Wells Fargo & Company raised their price objective on Sandisk from $115.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Cantor Fitzgerald lifted their target price on Sandisk from $240.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Wall Street Zen upgraded Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Finally, Mizuho lifted their price objective on shares of Sandisk to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Sandisk currently has an average rating of “Moderate Buy” and an average target price of $201.00.

Sandisk Stock Up 7.1%

The company has a current ratio of 3.29, a quick ratio of 2.03 and a debt-to-equity ratio of 0.14. The stock has a market cap of $33.48 billion and a P/E ratio of 713.88. The firm has a 50-day simple moving average of $184.03 and a two-hundred day simple moving average of $96.91.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings results on Thursday, November 6th. The data storage provider reported $1.22 EPS for the quarter, beating the consensus estimate of $0.58 by $0.64. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.12 billion. The business’s revenue was up 22.6% compared to the same quarter last year. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Insider Buying and Selling

In other news, Director Necip Sayiner sold 1,271 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $195.14, for a total value of $248,022.94. Following the completion of the transaction, the director directly owned 3,479 shares in the company, valued at approximately $678,892.06. The trade was a 26.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sandisk

Institutional investors have recently modified their holdings of the company. NorthRock Partners LLC acquired a new position in Sandisk during the third quarter worth $271,000. Duquesne Family Office LLC bought a new position in shares of Sandisk during the 3rd quarter worth approximately $18,652,000. Squarepoint Ops LLC bought a new position in Sandisk in the 3rd quarter valued at $4,874,000. Ossiam bought a new stake in shares of Sandisk during the 3rd quarter worth $5,756,000. Finally, Longaeva Partners L.P. purchased a new position in shares of Sandisk in the 3rd quarter worth about $5,309,000.

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.