Citigroup Issues Positive Forecast for Sandisk (NASDAQ:SNDK) Stock Price

Sandisk (NASDAQ:SNDK) had its price objective boosted by Citigroup from $150.00 to $280.00 in a research note issued to investors on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the data storage provider’s stock.

Several other research analysts have also commented on SNDK. Wedbush upped their price objective on Sandisk from $220.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday. Wells Fargo & Company boosted their target price on shares of Sandisk from $115.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday. Zacks Research raised shares of Sandisk from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Morgan Stanley lifted their price objective on shares of Sandisk from $96.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Finally, Cantor Fitzgerald boosted their price objective on shares of Sandisk from $240.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Sandisk currently has a consensus rating of “Moderate Buy” and an average target price of $170.41.

Sandisk Stock Up 15.3%

Shares of SNDK traded up $31.79 during mid-day trading on Friday, hitting $239.48. The company’s stock had a trading volume of 20,475,695 shares, compared to its average volume of 8,496,557. The company has a current ratio of 3.56, a quick ratio of 2.11 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average is $126.31 and its 200-day moving average is $70.97. Sandisk has a 52-week low of $27.89 and a 52-week high of $240.00. The firm has a market capitalization of $35.06 billion and a price-to-earnings ratio of -412.90.

Sandisk (NASDAQ:SNDK) last issued its quarterly earnings data on Thursday, November 6th. The data storage provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.64. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.12 billion. Sandisk’s revenue for the quarter was up 22.6% compared to the same quarter last year. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Institutional Investors Weigh In On Sandisk

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

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.