Sandisk (NASDAQ:SNDK) Upgraded at Evercore

Sandisk (NASDAQ:SNDK) was upgraded by equities research analysts at Evercore to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also commented on the stock. Sanford C. Bernstein set a $1,250.00 price target on shares of Sandisk and gave the stock an “outperform” rating in a research note on Thursday, April 9th. Cantor Fitzgerald increased their price target on shares of Sandisk from $800.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Royal Bank Of Canada restated a “sector perform” rating and set a $650.00 price target on shares of Sandisk in a research note on Friday, January 30th. Jefferies Financial Group increased their price target on shares of Sandisk from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Wells Fargo & Company increased their price target on shares of Sandisk from $230.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 15th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $684.50.

Sandisk Trading Down 5.6%

Shares of NASDAQ:SNDK traded down $52.74 during mid-day trading on Monday, hitting $891.72. The stock had a trading volume of 16,188,360 shares, compared to its average volume of 17,751,426. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.92 and a current ratio of 3.11. The company has a market cap of $131.62 billion, a PE ratio of -117.49 and a beta of 5.04. Sandisk has a 12-month low of $28.94 and a 12-month high of $965.00. The company’s 50 day moving average is $669.21 and its 200-day moving average is $405.82.

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

Insider Buying and Selling at Sandisk

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

Hedge Funds Weigh In On Sandisk

Hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. bought a new position in Sandisk during the 2nd quarter valued at about $317,000. Corient Private Wealth LLC bought a new position in Sandisk during the 2nd quarter valued at about $353,000. GAMMA Investing LLC bought a new position in Sandisk during the 3rd quarter valued at about $439,000. Voya Investment Management LLC bought a new position in Sandisk during the 3rd quarter valued at about $8,917,000. Finally, Perpetual Ltd bought a new position in Sandisk during the 3rd quarter valued at about $558,000.

Key Headlines Impacting Sandisk

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Nasdaq?100 inclusion will force index and passive funds to buy SNDK shares, creating a material source of demand ahead of the April 20 entry. The $600 Billion Buy Signal For SanDisk Stock
• Positive Sentiment: Multiple bullish analyst actions (Evercore initiating at Outperform, Jefferies raising its price target, Arete upgrading to strong?buy) are supporting investor optimism and higher targets. Evercore Initiates Coverage
• Positive Sentiment: Fundamentals/market thesis remain constructive: recent quarterly results beat revenue and EPS expectations and analysts continue to point to accelerating AI/data?center memory demand. SanDisk Stock Surges 2,739% in 12 Months
• Neutral Sentiment: The stock’s extraordinary run (multi?thousand percent gains YTD) and heavy media/retail coverage make short?term flows unpredictable — inclusion and upgrades are positive but already priced to some extent. SanDisk Stock Surges 2,739% — Memory Demand Soars
• Negative Sentiment: Today’s decline aligns with sectorwide profit?taking: memory names pulled back together as investors locked gains after a historic run, pressuring SNDK intraday. Micron Falls 5%, SanDisk Drops 7%
• Negative Sentiment: Heightened volatility and headline risk (very high beta, heavy retail interest, lingering data?center demand uncertainties) increase the chance of sharp pullbacks despite positive catalysts. What’s Going On With SanDisk Stock?

Sandisk Company Profile

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.