Sandisk (NASDAQ:SNDK) Sees Large Volume Increase Following Analyst Upgrade

Sandisk Corporation (NASDAQ:SNDK) shares saw strong trading volume on Thursday after Bank of America raised their price target on the stock from $270.00 to $300.00. Bank of America currently has a buy rating on the stock. 6,499,806 shares traded hands during trading, an increase of 27% from the previous session’s volume of 5,106,333 shares.The stock last traded at $230.58 and had previously closed at $245.96.

SNDK has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sandisk in a research note on Monday. Susquehanna raised their price objective on shares of Sandisk from $65.00 to $250.00 and gave the stock a “positive” rating in a report on Friday, November 7th. Wall Street Zen upgraded shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Cantor Fitzgerald upped their target price on shares of Sandisk from $240.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Morgan Stanley raised their price target on shares of Sandisk from $230.00 to $263.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Sandisk presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.29.

Institutional Investors Weigh In On Sandisk

Hedge funds have recently made changes to their positions in the company. WBI Investments LLC acquired a new position in Sandisk in the third quarter valued at about $448,000. Caerus Investment Advisors LLC acquired a new stake in shares of Sandisk during the third quarter worth approximately $308,000. Captrust Financial Advisors bought a new position in shares of Sandisk in the third quarter valued at approximately $1,542,000. Coldstream Capital Management Inc. acquired a new position in shares of Sandisk in the 3rd quarter worth approximately $247,000. Finally, Danske Bank A S acquired a new position in shares of Sandisk in the 3rd quarter worth approximately $123,000.

Sandisk Stock Performance

The stock has a 50-day moving average of $162.99 and a 200 day moving average of $85.93. The firm has a market capitalization of $29.35 billion and a P/E ratio of 625.84. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.03 and a current ratio of 3.29.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data on Thursday, November 6th. The data storage provider reported $1.22 earnings per share (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 the consensus estimate of $2.12 billion. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

About Sandisk

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.