Wedbush Increases SanDisk Price Target to $115.00 (SNDK)
Investment analysts at Wedbush raised their price objective on shares of SanDisk (NASDAQ:SNDK) from $98.00 to $115.00 in a note issued to investors on Thursday. Wedbush’s price target indicates a potential upside of 15.39% from the company’s current price.
SNDK has been the subject of a number of other recent research reports. Analysts at Bank of America upgraded shares of SanDisk from an “underperform” rating to a “buy” rating in a research note on Wednesday. They now have a $125.00 price target on the stock, up previously from $80.00. Separately, analysts at Summit Research downgraded shares of SanDisk from a “buy” rating to a “hold” rating in a research note on Tuesday. They now have a $87.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Zacks reiterated a “neutral” rating on shares of SanDisk in a research note on Friday, May 30th. They now have a $101.00 price target on the stock. Eleven analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $97.93.
SanDisk (NASDAQ:SNDK) traded down 0.87% during mid-day trading on Thursday, hitting $98.79. The stock had a trading volume of 867,613 shares. SanDisk has a 52 week low of $53.09 and a 52 week high of $100.81. The stock’s 50-day moving average is $91.3 and its 200-day moving average is $77.96. The company has a market cap of $22.395 billion and a price-to-earnings ratio of 20.71. SanDisk also was the target of unusually large options trading on Wednesday. Stock traders bought 14,691 put options on the stock. This represents an increase of approximately 203% compared to the typical daily volume of 4,843 put options.
SanDisk (NASDAQ:SNDK) last released its earnings data on Wednesday, April 16th. The company reported $1.44 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.25 by $0.19. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. The company’s quarterly revenue was up 12.8% on a year-over-year basis. Analysts expect that SanDisk will post $6.07 EPS for the current fiscal year.
In other SanDisk news, Director Catherine P. Lego sold 2,500 shares of SanDisk stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $96.73, for a total transaction of $241,825.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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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