Sandisk (NASDAQ:SNDK) Shares Gap Up – Time to Buy?

Sandisk Corporation (NASDAQ:SNDK) shares gapped up before the market opened on Thursday . The stock had previously closed at $1,914.46, but opened at $2,238.31. Sandisk shares last traded at $2,162.6330, with a volume of 3,356,502 shares traded.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Rising AI infrastructure demand continues to support Sandisk’s NAND flash and SSD business, with multiple articles pointing to strong pricing power, improving earnings, and a favorable industry backdrop. Micron + One Explosive AI Memory Stock to Buy Before H2 2026
• Positive Sentiment: Citi raised its price target on Sandisk to $2,500 and reiterated a Buy rating, reinforcing the view that Wall Street still sees upside after the company’s blowout quarter. Citi Just Raised Its Price Target on SanDisk Stock. Here’s Why.
• Positive Sentiment: Micron’s strong results also lifted sentiment across the memory-chip group, putting Sandisk in focus as investors extrapolate stronger AI memory demand into the next quarter. Micron’s Robust Q3 Results Raise Investor Attention on These 3 Stocks
• Neutral Sentiment: Some analysis notes that Sandisk remains attractively valued versus its growth profile, but that the stock carries higher execution and customer-concentration risk than more diversified peers. Sandisk: Unlike Micron, There’s Much Higher Risk
• Negative Sentiment: Several market reports describe the move as a cooling of the memory rally, with traders locking in profits after Thursday’s sharp surge. Why Is Sandisk Stock Falling Friday?
• Negative Sentiment: One bearish note argues Sandisk has rallied too far too fast and implies material downside from current levels, adding to near-term pressure on the shares. Prediction: SanDisk Has Rallied Too Far, Too Fast. The Price Target Warns of 20%+ Downside

Analysts Set New Price Targets

A number of brokerages recently issued reports on SNDK. Weiss Ratings cut shares of Sandisk from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 3rd. Evercore restated an “outperform” rating and issued a $1,400.00 price objective on shares of Sandisk in a research report on Friday, May 1st. Sanford C. Bernstein raised their price objective on Sandisk from $1,250.00 to $1,700.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Raymond James Financial reaffirmed an “outperform” rating and set a $1,470.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Finally, Bank of America lifted their target price on Sandisk from $1,550.00 to $2,100.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,603.29.

Sandisk Stock Down 10.5%

The company has a market capitalization of $309.61 billion, a P/E ratio of 72.67 and a beta of 4.87. The business has a fifty day moving average price of $1,546.01 and a 200 day moving average price of $881.10.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The business had revenue of $5.95 billion during the quarter. During the same quarter in the previous year, the business posted ($0.30) earnings per share. The firm’s quarterly revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. As a group, equities analysts forecast that Sandisk Corporation will post 64.01 earnings per share for the current year.

Insider Transactions at Sandisk

In other news, CAO Michael Pokorny sold 2,446 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the completion of the transaction, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at $31,910,777.50. This trade represents a 9.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alper Ilkbahar sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1,756.58, for a total transaction of $3,513,160.00. Following the transaction, the executive vice president directly owned 52,677 shares of the company’s stock, valued at $92,531,364.66. This represents a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 5,625 shares of company stock worth $8,913,497. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. bought a new stake in Sandisk during the 2nd quarter worth about $317,000. Merit Financial Group LLC acquired a new position in shares of Sandisk during the 3rd quarter worth about $408,000. Clearstead Advisors LLC bought a new position in shares of Sandisk in the 3rd quarter valued at about $216,000. EverSource Wealth Advisors LLC bought a new position in shares of Sandisk in the 3rd quarter valued at about $299,000. Finally, MAI Capital Management acquired a new stake in shares of Sandisk in the third quarter valued at about $181,000.

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.