Sandisk (NASDAQ:SNDK) Trading Up 6.2% – Still a Buy?

Sandisk Corporation (NASDAQ:SNDK) shares were up 6.2% during trading on Wednesday . The company traded as high as $1,103.00 and last traded at $1,064.21. Approximately 10,995,440 shares changed hands during trading, a decline of 41% from the average daily volume of 18,558,453 shares. The stock had previously closed at $1,002.35.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Blowout Q3 results — revenue jumped ~251% to $5.95B and non?GAAP EPS of $23.41 materially beat estimates; management issued very strong Q4 guidance (EPS $30–33; revenue $7.75B–$8.25B), underpinning the rally. SanDisk Earnings Crush Estimates With 251% Revenue Surge
• Positive Sentiment: Company announced a $6B share buyback and reported multiple long?term contracts (reports cite large multi?year agreements backed by firm commitments), which reduce cyclicality and improve revenue visibility. Sandisk has thumping quarter on AI boom, secures long-term contracts and unveils big buyback
• Positive Sentiment: Margins surged (GAAP and non?GAAP gross margins expanded sharply) driven by datacenter NAND pricing and product mix toward higher?value SSDs — a near?term earnings multiplier amid AI infrastructure buildout. SNDK’s Q3 Earnings Beat Estimates, Revenues Rise on Datacenter Surge
• Positive Sentiment: Analysts are revising models and raising targets after the print (examples: Cantor Fitzgerald, Wells Fargo), which supports further upside consensus. Wall Street revises Sandisk stock price target
• Neutral Sentiment: Company is shifting to a “new business model” with multi?year contracts and guarantees that analysts say reduce cyclicality — important strategically but dependent on long?term execution. Sandisk’s new business model improves visibility, reduces cyclicality: analysts
• Neutral Sentiment: Options and technical positioning had priced in a huge move heading into earnings (high volatility expected); some post?print moves reflect that positioning more than a change to fundamentals. SanDisk Q3 Earnings Preview: Wall Street Braces for 21% Post-Report Swing
• Negative Sentiment: “Sell?the?news” / profit?taking pressure and short?term pullbacks followed the report in some sessions despite the beats — a common reaction after a parabolic run and heavy pre?earnings positioning. Sandisk stock falls despite strong earnings report as investors ‘sell the news’
• Negative Sentiment: Concerns remain about how sustainable extreme margin levels and NAND pricing gains will be once supply tightness eases — commentators and some analysts flagged margin durability as a key risk. The Watchlist Panel: AI Demand vs. Supply Crunch
• Negative Sentiment: One shop (RBC) raised its target but kept a conservative “sector perform” stance, implying limited near?term upside from current levels — a reminder of divergent Street views. Benzinga report on RBC price target

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SNDK. Jefferies Financial Group reiterated a “buy” rating and issued a $1,400.00 target price on shares of Sandisk in a research note on Friday. Melius Research initiated coverage on shares of Sandisk in a report on Monday. They issued a “buy” rating on the stock. Mizuho set a $1,220.00 price objective on shares of Sandisk in a research report on Friday. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,200.00 price objective on shares of Sandisk in a research report on Friday. Finally, Barclays boosted their target price on shares of Sandisk from $750.00 to $1,200.00 and gave the company an “equal weight” rating in a research note on Friday. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,011.05.

Sandisk Price Performance

The business has a fifty day moving average price of $753.17 and a 200 day moving average price of $469.58. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.11 and a quick ratio of 1.92. The company has a market capitalization of $175.20 billion, a price-to-earnings ratio of -156.39 and a beta of 4.83.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $23.41 earnings per share for the quarter, topping the consensus estimate of $14.17 by $9.24. The business had revenue of $5.95 billion during the quarter. Sandisk had a net margin of 34.19% and a return on equity of 48.85%. The business’s revenue for the quarter was up 251.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.30) EPS. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, research analysts expect that Sandisk Corporation will post 47.45 earnings per share for the current fiscal year.

Insider Activity at Sandisk

In other news, Director Miyuki Suzuki sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $627.53, for a total value of $2,196,355.00. Following the completion of the sale, the director directly owned 9,907 shares of the company’s stock, valued at approximately $6,216,939.71. This represents a 26.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Sandisk

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. bought a new position in Sandisk during the 4th quarter valued at $26,000. Greenline Wealth Management LLC bought a new stake in shares of Sandisk in the 4th quarter worth $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Sandisk in the third quarter valued at $27,000. Chung Wu Investment Group LLC bought a new position in Sandisk during the fourth quarter valued at about $27,000. Finally, CVA Family Office LLC bought a new position in Sandisk during the third quarter valued at about $28,000.

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.