TLDR
- SanDisk reports Q3 FY26 earnings after market close on April 30
- Options traders are pricing in a 21% move in either direction post-earnings
- Wall Street expects revenue of $4.70 billion, up over 175% year-over-year
- EPS estimate is $13.40–$14.54, compared to a loss of $0.60 a year ago
- SNDK is up over 317% year-to-date and nearly 2,966% over the past 52 weeks
SanDisk reports third-quarter fiscal 2026 results after the bell today, April 30. The company has had a remarkable run — but now investors want to see the numbers back it up.
SNDK stock is up over 317% year-to-date. Over the past 52 weeks, it has surged nearly 2,966%. That far outpaces the S&P 500’s 30.6% return and the XLK tech ETF’s 56% gain over the same period.
Options traders are expecting a big reaction. The implied move from the options market is 21.11% in either direction. That compares to an average post-earnings move of just 7.9% over the past four quarters.
Wall Street analysts expect revenue of $4.70 billion for the quarter. That would be a rise of more than 175% from the same quarter a year ago.
On earnings per share, estimates vary slightly between sources. One set of analyst estimates points to $13.40 per share, while another cites $14.54. Either figure represents a dramatic turnaround from a loss of $0.30 to $0.60 per share in the year-ago quarter.
In Q2, SanDisk beat EPS expectations by 76.1%, posting $5.83 against consensus. The company has topped Wall Street’s bottom-line estimates in three of the last four quarters.
What Investors Are Watching
Three things are in focus heading into today’s report. First, Enterprise SSD demand. Investors want to see real numbers behind the AI data center story — new contracts, volume growth, and pricing power.
Second, NAND pricing and margins. Memory prices have been expected to rise due to tight supply. The question is whether that is showing up in SanDisk’s profit margins.
Third, and perhaps most important, guidance. Supply remains constrained, and investors will want to know if SanDisk can meet demand through the rest of fiscal 2026.
For the full fiscal year ending in June, analysts expect EPS of $39.01. That would be up over 2,091% from $1.78 in fiscal 2025. FY2027 EPS is projected to grow a further 129% to $89.39.
Recent Moves and Analyst Views
Not everything has been smooth. On March 26, SNDK dropped 11% after the company announced a $1 billion investment in Taiwan’s Nanya Technology. The deal includes a 3.9% equity stake and a long-term DRAM supply agreement. Investors were wary of the capital spend and potential dilution.
That sell-off was made worse by news that Google had developed a memory-saving algorithm, raising questions about future hardware demand.
Still, Wall Street remains bullish. Among 21 analysts covering the stock, 16 rate it Strong Buy, one says Moderate Buy, and four say Hold. The average price target is $916.47, with a Street-high target of $1,800 — implying over 81% upside from current levels.
A separate set of analyst data shows 13 Buys and three Holds, with an average price target of $1,020.
SanDisk’s market cap stands at approximately $146.1 billion. The company is headquartered in Milpitas, California.
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