Wells Fargo & Company Increases Sandisk (NASDAQ:SNDK) Price Target to $230.00

Sandisk (NASDAQ:SNDK) had its target price raised by equities research analysts at Wells Fargo & Company from $115.00 to $230.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the data storage provider’s stock. Wells Fargo & Company‘s price objective suggests a potential downside of 3.07% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. UBS Group reissued an “overweight” rating and set a $230.00 target price on shares of Sandisk in a report on Monday. Bank of America lifted their price target on Sandisk from $59.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Sanford C. Bernstein raised Sandisk to a “strong-buy” rating in a research note on Tuesday, September 16th. Cantor Fitzgerald raised their target price on Sandisk from $240.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Morgan Stanley lifted their target price on Sandisk from $96.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Sandisk has a consensus rating of “Moderate Buy” and an average target price of $170.41.

Sandisk Stock Performance

Shares of NASDAQ SNDK traded up $29.59 during midday trading on Friday, reaching $237.28. 18,732,783 shares of the company traded hands, compared to its average volume of 4,637,559. The company has a market cap of $34.74 billion and a price-to-earnings ratio of -409.10. The stock has a 50-day moving average price of $122.53 and a 200 day moving average price of $69.53. Sandisk has a 52 week low of $27.89 and a 52 week high of $237.69. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.56 and a quick ratio of 2.11.

Sandisk (NASDAQ:SNDK) last released its earnings results on Thursday, November 6th. The data storage provider reported $1.22 EPS for the quarter, beating the consensus estimate of $0.58 by $0.64. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.12 billion. Sandisk’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.

Hedge Funds Weigh In On Sandisk

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. acquired a new stake in Sandisk during the 3rd quarter worth about $1,970,388,000. Parnassus Investments LLC acquired a new stake in shares of Sandisk during the third quarter valued at approximately $103,815,000. Principal Financial Group Inc. purchased a new stake in shares of Sandisk in the 3rd quarter valued at approximately $74,265,000. Public Sector Pension Investment Board acquired a new position in Sandisk in the 3rd quarter worth approximately $60,415,000. Finally, GF Fund Management CO. LTD. acquired a new position in Sandisk in the 3rd quarter worth approximately $45,206,000.

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.