TLDR
- SNDK rose ~4% in Monday premarket after falling 14.13% the session before
- The stock is up over 4,885% since relisting on Nasdaq in February 2025
- Analysts expect EPS of $33.38 and revenue of $8.24B for the next quarterly report on Aug. 13
- Bank of America, Bernstein, and Citi have all raised price targets recently, with Bernstein going as high as $3,000
- SNDK trades at 61x earnings but analysts expect revenue to grow 124% and earnings 183% next fiscal year
SanDisk (SNDK) has had one of the more jaw-dropping runs in recent memory. The stock relisted on the Nasdaq in February 2025 at around $35 per share and has since surged to roughly $1,745 — a gain of approximately 4,885%.
Monday’s premarket saw the stock climb about 4%, trading at $1,817. That followed a steep 14.13% drop in the prior session. The bounce came alongside broader tech strength, with Nasdaq futures up 1.06% and S&P 500 futures gaining 0.46%.
Year to date, SNDK is up 635%. Over the past 12 months, it has returned approximately 3,780%. The 52-week range runs from $40.10 to a high of $2,354.39, though the stock is currently sitting about 25% below that all-time high set in late June.
The AI-driven demand for data storage and memory is the engine behind this run. Enterprises, hyperscalers, and data centers cannot get enough NAND flash and solid-state drives, and supply hasn’t caught up to demand. That supply/demand imbalance has given SanDisk pricing power and pushed revenue sharply higher.
In its most recent quarter, SanDisk posted revenue of $5.95 billion — up 97% sequentially. Non-GAAP earnings came in at $23.41 per share, a 247% increase. For the current quarter, the company is guiding for revenue growth of 30%–38% and EPS growth of 28%–41%.
Analyst Targets and Earnings Outlook
Wall Street is broadly bullish. Around 79% of analysts rate SNDK a buy. The consensus price target sits at $1,755.75, though several firms have moved their targets well above that in recent weeks.
Bank of America raised its target to $2,500 on July 1. Bernstein lifted its target to $3,000 on June 30. Citigroup set a $2,500 target on June 25. All three moves came within days of each other.
The next earnings report is scheduled for Aug. 13, 2026. Analysts are expecting EPS of $33.38, compared to just $0.29 in the same quarter a year ago. Revenue estimates stand at $8.24 billion versus $1.90 billion a year earlier.
At current prices, SNDK trades at around 61 times trailing earnings and 31 times forward earnings. Given the growth expectations, many analysts view that as reasonable rather than stretched.
Inside the Numbers
SanDisk has more than $11 billion in financial guarantees through new contracts within its data center business. Its backlog from recently signed deals stands at $42 billion.
CEO David Goeckeler pointed to the timing on the most recent earnings call: “Our technology and product portfolio are intersecting this extraordinary demand at exactly the right moment.”
Some analysts believe the flash memory market will remain undersupplied into 2030. Goeckeler himself said in May the market will stay “undersupplied for a long period of time.”
Technically, SNDK sits 7.3% below its 20-day moving average of $1,951.71 but remains 12.4% above its 50-day moving average of $1,610.45. The RSI is at 46.99 — neutral territory. Resistance sits near $1,861, with support around $1,514.50.
Bernstein’s $3,000 price target remains the highest on the Street as of July 1.
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