Sandisk (NASDAQ:SNDK) Trading 7.2% Higher After Analyst Upgrade

Sandisk Corporation (NASDAQ:SNDK) rose 7.2% during trading on Thursday after Royal Bank Of Canada upgraded the stock to a hold rating. The stock traded as high as $420.00 and last traded at $415.88. Approximately 3,077,235 shares changed hands during trading, a decline of 78% from the average daily volume of 13,833,097 shares. The stock had previously closed at $387.81.

SNDK has been the subject of several other reports. JPMorgan Chase & Co. initiated coverage on shares of Sandisk in a research note on Monday, December 8th. They issued a “neutral” rating and a $235.00 target price for the company. Zacks Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 14th. Benchmark boosted their target price on Sandisk from $260.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday. Sanford C. Bernstein raised their price target on Sandisk from $300.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Morgan Stanley upped their price objective on shares of Sandisk from $263.00 to $273.00 and gave the company an “overweight” rating in a report on Monday, November 24th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $316.84.

Insider Buying and Selling

In other Sandisk news, Director Necip Sayiner sold 1,271 shares of Sandisk stock in a transaction dated 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 sale, the director owned 3,479 shares in the company, valued at $678,892.06. The trade was a 26.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Bernstein nearly doubled its price target and called NAND demand “unprecedented,” fueling the momentum behind SNDK shares. Bernstein Nearly Doubles PT
• Positive Sentiment: Benchmark raised its target to $450 and reiterated a Buy, signaling confidence in continued upside from supply tightness and pricing power. Benchmark Raises PT
• Positive Sentiment: Goldman Sachs raised its price target to $320 (Buy), citing strong SSD demand that supports higher revenue and pricing leverage. Goldman Sachs Raises PT
• Positive Sentiment: Multiple banks (Barclays, RBC Capital initiation, others) published higher targets or upgrades in quick succession, creating a clustering of positive research that pushed shares higher. Blockonomi Coverage of Upgrades
• Neutral Sentiment: RBC moved its rating to Sector Perform / Hold (coverage note), which is less bullish than some peers and suggests differing views on upside from current levels. RBC / Zacks Note
• Negative Sentiment: Seeking Alpha flagged that the NAND trade is getting crowded ahead of Q2 earnings, warning that positioning could amplify volatility if results or guidance disappoint. Seeking Alpha: Crowded Trade

Institutional Investors Weigh In On Sandisk

Institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. bought a new position in Sandisk in the 2nd quarter valued at about $317,000. Corient Private Wealth LLC acquired a new stake in Sandisk during the 2nd quarter valued at approximately $353,000. Praxis Investment Management Inc. acquired a new position in Sandisk in the third quarter valued at $533,000. GAMMA Investing LLC acquired a new stake in Sandisk during the 3rd quarter worth about $439,000. Finally, Voya Investment Management LLC bought a new stake in Sandisk in the third quarter worth approximately $8,917,000.

Sandisk Stock Up 1.1%

The company has a market cap of $60.62 billion and a price-to-earnings ratio of 1,292.56. The stock’s 50-day moving average is $259.52 and its 200-day moving average is $147.53. The company has a current ratio of 3.29, a quick ratio of 2.03 and a debt-to-equity ratio of 0.14.

Sandisk (NASDAQ:SNDK) last issued its earnings results on Thursday, November 6th. The data storage provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.64. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.12 billion. The firm’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. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.