Sandisk (NASDAQ:SNDK) Shares Up 6% – Still a Buy?

Sandisk Corporation (NASDAQ:SNDK)’s share price shot up 6% during trading on Wednesday . The stock traded as high as $607.48 and last traded at $599.06. 15,452,571 shares traded hands during trading, a decline of 22% from the average session volume of 19,910,666 shares. The stock had previously closed at $565.41.

Trending Headlines about Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Analyst bullish case — A Seeking Alpha upgrade lays out a path to $1,000 based on 2027 EPS forecasts, reinforcing a large upside thesis driven by improving NAND pricing and AI/enterprise demand. Sandisk: I See A Path To $1000 Based On 2027 EPS Forecasts (Rating Upgrade)
• Positive Sentiment: Macro/industry momentum — Coverage (Yahoo Finance) discusses whether the multi-month rally can continue into 2026, citing tight memory supply, strong NAND fundamentals and investor appetite for AI-exposed names as drivers. SanDisk Stock Forecast: Can the Rally Continue Into 2026?
• Positive Sentiment: AI/product partnership tailwinds — Reports note SanDisk and SK Hynix targeting AI with high?bandwidth flash products, supporting secular demand beyond consumer cycles. This strengthens the company’s growth/sentiment story. Sandisk And SK Hynix Target AI Growth With High Bandwidth Flash
• Neutral Sentiment: Conference transcript — SanDisk’s Morgan Stanley presentation (transcript) offers management color on strategy and end?market exposure; useful for checking guidance tone but not an immediate catalyst. Sandisk Corporation (SNDK) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript
• Neutral Sentiment: Analyst/idea lists — Zacks includes SNDK among five growth picks for March, reflecting continued analyst interest but not a unique catalyst. 5 Growth Stocks to Buy in March Despite Global Economic Turbulence
• Negative Sentiment: Geopolitical risk hit — Memory names, including SanDisk, plunged on an early?week risk?off move tied to Middle East tensions and higher energy costs, which pressured sentiment and drove a short?term selloff. Memory Chip Stocks Micron (MU) and SanDisk (SNDK) Plunge as Geopolitical Tensions Spike
• Negative Sentiment: Bearish notes and short?seller risk — Citron and other short narratives warn the rally is hype that “could vanish in a single earnings call,” emphasizing NAND cycle vulnerability and valuation risk. Sandisk Stock Hype Could ‘Vanish in a Single Earnings Call’ According to Citron Research. Is It Time to Ditch SNDK Here?
• Negative Sentiment: Supply/overhang & investor selling — Analysis highlights broader memory?cycle worries, secondary share activity tied to Western Digital’s remaining stake, and recent insider/institutional sells that can add pressure during risk?off periods. SanDisk slides as chip stocks fall with global risk-off sentiment, lingering memory-cycle worries
• Negative Sentiment: Near?term volatility theme — Multiple outlets (Benzinga, others) flag that memory sector selloffs tied to macro shocks and oil/inflation scares can quickly drive down high?beta positions like SNDK. Sandisk Dips Amid Memory Stock Selloff: What’s Going On?

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SNDK shares. Zacks Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Sanford C. Bernstein lifted their target price on shares of Sandisk from $300.00 to $580.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. Fox Advisors raised shares of Sandisk from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. Raymond James Financial raised shares of Sandisk from a “market perform” rating to an “outperform” rating and set a $725.00 price target on the stock in a report on Friday, January 30th. Finally, Cantor Fitzgerald lifted their price objective on shares of Sandisk from $550.00 to $800.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $542.85.

Sandisk Stock Performance

The company has a market cap of $88.42 billion and a P/E ratio of -78.93. The company’s fifty day moving average is $484.06 and its 200 day moving average is $269.68. The company has a current ratio of 3.11, a quick ratio of 1.92 and a debt-to-equity ratio of 0.06.

Sandisk (NASDAQ:SNDK) last posted its quarterly earnings results on Thursday, January 29th. The data storage provider reported $6.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $2.89. The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $2.67 billion. Sandisk had a negative net margin of 11.66% and a positive return on equity of 10.11%. Sandisk’s revenue was up 61.2% on a year-over-year basis.

Insider Transactions at Sandisk

In other Sandisk news, Director Miyuki Suzuki sold 3,500 shares of Sandisk stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $627.53, for a total value of $2,196,355.00. Following the transaction, the director directly owned 9,907 shares of the company’s stock, valued at $6,216,939.71. The trade was a 26.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SNDK. Whittier Trust Co. purchased a new position in shares of Sandisk in the fourth quarter valued at about $26,000. Greenline Wealth Management LLC purchased a new stake in shares of Sandisk during the fourth quarter worth about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Sandisk in the third quarter worth about $27,000. Chung Wu Investment Group LLC bought a new stake in shares of Sandisk in the fourth quarter worth about $27,000. Finally, CVA Family Office LLC purchased a new position in Sandisk during the 3rd 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.