SanDisk Corp. Price Target Raised to $71.00 at Wedbush (SNDK)
Investment analysts at Wedbush increased their price target on shares of SanDisk Corp. (NASDAQ:SNDK) from $69.00 to $71.00 in a note issued to investors on Monday, American Banking News reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price target points to a potential upside of 12.64% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Stifel Nicolaus raised their price target on shares of SanDisk Corp. from $70.00 to $75.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of SanDisk Corp. from $60.00 to $64.00 in a research note to investors on Monday, October 7th. They now have a “market perform” rating on the stock. Finally, analysts at B. Riley raised their price target on shares of SanDisk Corp. to $75.00 in a research note to investors on Friday, October 4th. They now have a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have issued a buy rating to the company. SanDisk Corp. has an average rating of “Buy” and a consensus target price of $67.17.
In other SanDisk Corp. news, CEO Sanjay Mehrotra sold 45,000 shares of SanDisk Corp. stock on the open market in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $61.07, for a total value of $2,748,150.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
SanDisk Corp. (NASDAQ:SNDK) traded up 1.38% on Monday, hitting $63.03. 2,794,889 shares of the company’s stock traded hands. SanDisk Corp. has a 1-year low of $38.47 and a 1-year high of $63.97. The stock’s 50-day moving average is $59.40 and its 200-day moving average is $58.07. The company has a market cap of $15.152 billion and a price-to-earnings ratio of 21.27. SanDisk Corp. also was the recipient of some unusual options trading on Friday. Stock traders acquired 9,329 put options on the stock. This represents an increase of 153% compared to the average daily volume of 3,688 put options.
SanDisk Corp. (NASDAQ:SNDK) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.28. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 43.0% on a year-over-year basis. Analysts expect that SanDisk Corp. will post $4.78 EPS for the current fiscal year.
SanDisk Corporation designs, develops and manufactures data storage solutions in a range of form factors using its flash memory, controller and firmware technologies.
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