TLDR
- Susquehanna analyst Mehdi Hosseini doubled his SNDK price target to $2,000, implying ~30% upside from current levels
- SanDisk stock is up 554% year-to-date and 3,685% over the past 12 months
- Strong Q3 earnings drove multiple analyst upgrades, with targets ranging from $1,000 to $1,800
- SanDisk plans to return 50% of free cash flow via buybacks, which could drive ~10% earnings growth
- A company director sold $870,300 worth of stock on May 8, near the 52-week high of $1,600
SanDisk (SNDK) stock pulled back slightly on Monday but remains one of the market’s standout performers over the past year, up 3,685% over 12 months and 554% year-to-date.
The stock currently trades near $1,543, just below its 52-week high of $1,600.
Susquehanna analyst Mehdi Hosseini raised his price target on SNDK to $2,000 — double his previous target of $1,000 — while keeping a Buy rating in place. That new target implies a potential upside of around 29.62% from current levels.
Hosseini’s move came after SanDisk posted a strong fiscal Q3 earnings report that prompted Susquehanna to lift estimates “across the board.”
Analyst Upgrades Stack Up
The bullish case doesn’t stop with Susquehanna. Several major Wall Street banks followed with their own upgrades after earnings.
BofA Securities raised its target to $1,550 from $1,080 with a Buy rating, citing SanDisk beating both revenue and EPS expectations. Cantor Fitzgerald went higher, lifting its target to $1,800 after flagging a new business model arrangement covering five customers that represent over 33% of SanDisk’s total NAND bits in 2027.
Bernstein SocGen Group set a $1,700 target, pointing to strong earnings, guidance, and a favorable pricing environment. Jefferies moved to $1,400, highlighting long-term customer agreements that extend beyond 2030. RBC Capital raised its target to $1,000, citing strong NAND performance and gross margins approaching 80%.
The consensus Wall Street rating across 13 analysts is a Strong Buy, with three Holds. The average price target sits at $1,409.06.
One element that has caught analyst attention is SanDisk’s plan to direct 50% of free cash flow toward buybacks over the next two years. Hosseini estimates this alone could drive roughly 10% earnings accretion.
Hosseini also noted that around one-third of SanDisk’s fiscal 2027 revenue is already under contract, with similar visibility expected into fiscal 2028.
Director Sells Near 52-Week High
Not everyone is leaning in. Director Necip Sayiner sold 579 SNDK stock on May 8 at $1,503.11 per stock, totaling $870,300. He now directly holds 2,900 stock following the transaction, which was disclosed in a Form 4 filing with the SEC on May 11.
InvestingPro flags the stock as overvalued at current levels, with a P/E ratio of 52.88.
Trading volume on Monday came in at 7.31 million, below the three-month daily average of 17.78 million.
The Q3 report that sparked the wave of upgrades showed SanDisk beat revenue and EPS expectations, and its Q4 guidance also came in ahead of Street estimates — even as bit shipments declined quarter-over-quarter.
Cantor Fitzgerald highlighted $42 billion in NAND bit obligations and $11 billion in financial guarantees tied to the new customer arrangements as further evidence of long-term revenue stability.
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