Sandisk (NASDAQ:SNDK) Shares Up 7.6% – Still a Buy?

Posted by Brian Himes on Jul 9th, 2026

Sandisk Corporation (NASDAQ:SNDK – Get Free Report)’s share price was up 7.6% during trading on Thursday . The stock traded as high as $1,952.59 and last traded at $1,858.27. Approximately 13,089,341 shares changed hands during trading, a decline of 21% from the average session volume of 16,493,072 shares. The stock had previously closed at $1,727.18.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

Positive Sentiment: Shares jumped after reports that Meta signed a multi-year NAND flash supply agreement with Sandisk as part of its AI data-center buildout, reinforcing demand visibility for the company’s storage products. SanDisk (SNDK) Shares Spike 10% on Multi-Year Meta Storage Partnership
Positive Sentiment: Wedbush raised its price target on Sandisk to $2,000 from $1,200 ahead of fiscal Q4 results, signaling confidence that earnings could beat expectations and that management’s guidance may prove conservative. SanDisk set for earnings upside as Wedbush lifts price target
Positive Sentiment: The broader memory-chip group is recovering after the Samsung-led selloff, with Sandisk rebounding alongside peers as investors step back into the trade. Micron, SanDisk recover after Samsung-led selloff; fresh catalysts add to sentiment
Neutral Sentiment: Sandisk announced it will report fiscal Q4 and fiscal 2026 results on August 5 and hold an Investor Day on August 13, giving investors upcoming event dates but no new operating update yet. Sandisk to Report Fiscal Fourth Quarter and Fiscal Year 2026 Results on August 5, 2026; Announces Investor Day on August 13, 2026
Neutral Sentiment: Several articles noted that Sandisk remains highly volatile after a steep pullback earlier in the week, with valuation and growth expectations still dominating trading. SanDisk Stock Tumbles in Tech Sell-Off, but Wall Street Sees More Upside

Analyst Ratings Changes

Several research analysts recently issued reports on SNDK shares. Susquehanna increased their price target on shares of Sandisk from $2,000.00 to $3,250.00 and gave the stock a “positive” rating in a research note on Friday, May 29th. Weiss Ratings raised shares of Sandisk from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Raymond James Financial restated an “outperform” rating and issued a $1,470.00 price objective on shares of Sandisk in a report on Friday, May 1st. Citigroup raised their target price on shares of Sandisk from $2,025.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $1,400.00 target price on shares of Sandisk in a report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Sandisk currently has an average rating of “Moderate Buy” and a consensus price target of $1,684.24.

Read Our Latest Stock Report on Sandisk

Sandisk Stock Performance

The company has a market capitalization of $275.19 billion, a PE ratio of 64.59 and a beta of 4.74. The company’s 50-day moving average is $1,692.15 and its 200 day moving average is $978.66.

Sandisk (NASDAQ:SNDK – Get Free Report) last issued its earnings results on Thursday, April 30th. The data storage provider reported $23.41 earnings per share (EPS) 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 44.06%. The firm’s quarterly revenue was up 251.0% on a year-over-year basis. During the same period last year, the firm posted ($0.30) earnings per share. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. On average, analysts forecast that Sandisk Corporation will post 64.01 EPS for the current fiscal year.

Insider Activity

In related news, CAO Michael Pokorny sold 2,446 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total value of $3,488,436.28. Following the transaction, the chief accounting officer directly owned 22,375 shares of the company’s stock, valued at approximately $31,910,777.50. This represents a 9.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Necip Sayiner sold 579 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total value of $870,300.69. Following the completion of the transaction, the director directly owned 2,900 shares in the company, valued at $4,359,019. This trade represents a 16.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 6,225 shares of company stock valued at $10,166,297 in the last quarter. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Sandisk

Hedge funds have recently bought and sold shares of the business. State Street Corp bought a new position in Sandisk during the 3rd quarter valued at about $491,053,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Sandisk during the third quarter valued at approximately $297,293,000. Norges Bank purchased a new position in shares of Sandisk during the fourth quarter valued at approximately $518,889,000. Bank of America Corp DE bought a new position in Sandisk during the third quarter valued at approximately $190,425,000. Finally, AQR Capital Management LLC bought a new position in Sandisk during the third quarter valued at approximately $163,057,000.

Sandisk Company Profile

(Get Free Report)

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.