SanDisk Coverage Initiated at BNP Paribas (SNDK)
In other SanDisk news, SVP Eric S. Whitaker unloaded 9,375 shares of SanDisk stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $99.00, for a total value of $928,125.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of SanDisk (NASDAQ:SNDK) traded down 2.52% during mid-day trading on Tuesday, hitting $95.49. The stock had a trading volume of 3,417,569 shares. SanDisk has a 52-week low of $55.15 and a 52-week high of $108.77. The stock has a 50-day moving average of $95.73 and a 200-day moving average of $89.25. The company has a market cap of $21.412 billion and a P/E ratio of 20.00. SanDisk also was the recipient of a large drop in short interest in the month of August. As of August 15th, there was short interest totalling 16,265,604 shares, a drop of 9.3% from the July 31st total of 17,927,150 shares. Approximately 7.2% of the shares of the stock are sold short. Based on an average trading volume of 2,790,343 shares, the short-interest ratio is currently 5.8 days.
SanDisk (NASDAQ:SNDK) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $1.41 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.39 by $0.02. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. Analysts expect that SanDisk will post $5.91 EPS for the current fiscal year.
A number of other firms have also recently commented on SNDK. Analysts at Zacks reiterated a “neutral” rating on shares of SanDisk in a research note on Thursday, August 14th. They now have a $98.00 price target on the stock. Separately, analysts at Wedbush reiterated an “outperform” rating on shares of SanDisk in a research note on Thursday, July 17th. They now have a $105.00 price target on the stock, down previously from $115.00. Finally, analysts at Susquehanna raised their price target on shares of SanDisk from $110.00 to $120.00 in a research note on Thursday, July 17th. They now have a “positive” rating on the stock. Twelve analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. SanDisk currently has a consensus rating of “Buy” and an average target price of $105.03.
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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