TLDR
- Sandisk (SNDK) is up ~6% today, trading near $990, close to its 52-week high of $1,002
- The stock has risen roughly 2,400% since the start of 2025, driven by soaring AI demand for memory and SSDs
- Q1 revenue hit $3.03 billion, up 61% year-over-year, with EPS of $6.20 — nearly double analyst estimates
- Multiple analysts have raised price targets, with UBS and Cantor Fitzgerald both setting targets at $1,000
- Short interest has climbed to ~6.6% of float, and one director sold $2.2 million worth of stock in February
Sandisk has had a run that most investors only dream about. A $10,000 investment at the start of 2025 would now be worth over $250,000. The stock is up around 6% today alone, sitting just under $990 — a whisker from its all-time high.
The fuel behind the rally comes down to two things: memory and solid-state drives (SSDs). AI systems are hungry for both, and Sandisk is in the middle of that feeding frenzy.
Right now, the memory market simply can’t keep up with what advanced AI chips demand. That supply crunch has pushed prices higher, and Sandisk has been one of the main beneficiaries.
Because memory capacity is stretched thin, AI companies are turning to SSDs as a secondary storage option — a workaround that has sent Sandisk’s SSD business surging.
That shows up clearly in the numbers. In its most recent quarter, Sandisk posted revenue of $3.03 billion, beating analyst estimates of $2.67 billion. Year-over-year revenue growth came in at 61%.
Earnings were even more striking. Diluted EPS hit $6.20, blowing past the $3.31 consensus. The pattern here is simple: higher demand pushes up prices, and higher prices mean profits grow faster than revenue.
Analyst Upgrades and Institutional Buying
Wall Street has taken notice. Arete Research upgraded SNDK to a “strong-buy” on April 13. Goldman Sachs raised its price target from $320 to $700 back in January. Both UBS and Cantor Fitzgerald have set targets at $1,000.
The consensus rating across 24 analysts is “Moderate Buy,” though the average price target sits at $752 — below where the stock trades today.
Several institutional investors have been adding exposure. Universal Beteiligungs und Servicegesellschaft mbH doubled its position in Q4, picking up an additional 17,232 units valued at roughly $7.9 million. CWM LLC and Deprince Race & Zollo also opened new positions worth $7.4 million and $39.5 million respectively.
Not everyone is piling in, though. Short interest climbed to around 9.75 million units — about 6.6% of the float — as of mid-April, pointing to growing skepticism among some traders.
Valuation and Insider Activity
At current prices, SNDK trades at 20.5 times forward earnings. That might look reasonable on its face, but Sandisk operates in a cyclical industry. When the memory supply crunch eases, pricing power fades, and earnings can fall fast.
The stock also carries a beta of 5.04 — meaning it moves roughly five times more than the broader market in either direction.
On the insider front, Director Miyuki Suzuki sold 3,500 units on February 25 at an average price of $627.53, totaling $2.19 million. That sale cut her ownership stake by 26%.
Sandisk is set to report Q1 2026 earnings soon, with analysts expecting full-year EPS of $39.01. The stock opened Monday at $989.90, just below its 52-week high of $1,002.09.
🚨 Our April Stock Picks Are Live!
A new month means new opportunities. Our analysts have just released their top stock picks for April, highlighting companies with strong momentum that rank highly on our KO Score algorithm. We’re also now sharing trade ideas for both long-term and short-term investors, giving you more ways to spot potential opportunities in the market.
Sign up to Knockout Stocks today and get 50% off to unlock the full list and see which stocks made the cut.
Use coupon code Special50 for your exclusive discount!
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
