Sandisk Price Target Hiked to $2,500 as Shares Soar 22%
SNDK•Citi raised Sandisk’s price target to $2,500 from $2,025, implying roughly 30.6% upside after a 22% share surge over 24 hours and a 4,800% rally in the past year. Last quarter revenue hit $5.95 billion, up 97% sequentially with data center sales up 233%.
1. Price Target Upgrade and Stock Movement
Citi raised Sandisk’s price target to $2,500 from $2,025, a 24% increase implying about 30.6% additional upside. Shares jumped approximately 22% in 24 hours and have surged 4,800% over the past year, making Sandisk the top performer in the S&P 500.
2. Strong Quarterly Financial Performance
Sandisk posted $5.95 billion in revenue last quarter, a 97% sequential increase driven by a 233% quarter-over-quarter jump in data center sales. More than one-third of its fiscal 2027 NAND bit output is secured under multi-year contracts, enhancing revenue visibility.
3. Industry Dynamics and Future Catalysts
Mid-single-digit sequential NAND bit shipment growth and mid-80% average selling price gains reflect ongoing supply tightness. Key near-term catalysts include industry earnings releases, the Flash Memory Summit in August, and Sandisk’s investor day the same month, all set to sharpen sector sentiment.
