Milpitas, California-based Sandisk Corporation (SNDK) is a flash memory and data storage company best known for designing and manufacturing NAND flash storage solutions used in consumer electronics, enterprise systems, and cloud infrastructure. Valued at $207.6 billion by market cap, the brand has long been associated with products such as memory cards, USB flash drives, solid-state drives (SSDs), and embedded storage technologies.
Shares of this flash memory titan have significantly outperformed the broader market over the past year. SNDK has gained 4,067.8% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 31.4%. In 2026, SNDK stock is up 494%, surpassing the SPX’s 7.6% rise over the same time frame.
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Zooming in further, SNDK has also surpassed the State Street Technology Select Sector SPDR ETF’s (XLK) 59.2% uptick over the past year and 18.1% rise on a YTD basis.
SanDisk has grown exponentially over the past year and is emerging as a key beneficiary of the AI boom, as surging demand for data-intensive AI workloads drives stronger need for high-performance NAND flash storage across cloud infrastructure, edge computing, and hyperscale data centers. The company is seeing robust growth in its data center business, supported by rising enterprise demand, improving pricing trends, and a richer customer mix. At the same time, its shift toward long-term supply agreements is adding greater revenue and margin stability, strengthening the company’s long-term growth outlook.
On Apr. 30, Sandisk reported fiscal 2026 Q3 earnings, and its shares rose 3%. Its revenue rose 97% quarter over quarter to $5.95 billion. Its operating income jumped 286% from the previous quarter to $4.11 billion. Its adjusted net income per share rose 347% from the last quarter to $$5.15.
For the current fiscal year, ending in June, analysts expect SNDK’s EPS to grow 3,491.6% to $63.93 on a diluted basis. The company’s earnings surprise history is solid. It beat the consensus estimates in each of the last four quarters.
Among the 21 analysts covering SNDK stock, the consensus is a “Moderate Buy.” That’s based on 16 “Strong Buy” ratings, one “Moderate Buy,” and four “Holds.”
This configuration is slightly less bullish than a month ago, with 14 analysts suggesting a “Strong Buy.”
On May 1, Bernstein SocGen Group raised its price target on SanDisk to $1,700 from $1,250 while maintaining an “Outperform” rating, citing strong earnings, upbeat guidance, favorable management commentary, and a robust pricing environment. The firm significantly boosted its earnings forecasts, lifting its FY2026 EPS estimate to $64.73 and FY2027 EPS estimate to $200.47, well above Wall Street consensus, primarily driven by stronger near-term NAND pricing trends.
SNDK currently trades above the mean price target of $1,311.28 and the Street-high price target of $2,000 implies an upswing potential of 41.8% from the current market prices.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com