Sandisk Corp. (SNDK) shares fell 12.63% in Monday's session and extended losses by 1.06% in after-hours trading, caught in a broad chip sector selloff. Despite the decline, Wall Street analysts reaffirmed or raised price targets, with Citigroup maintaining a $2,500 target and Evercore ISI lifting its target to $3,100 from $1,400 while keeping an 'Outperform' rating. Analysts cited sustained artificial intelligence-driven memory demand, tight supply conditions expected through 2027, and strong pricing power as reasons for optimism. The moves come amid recent volatility across the memory sector, though analysts said long-term revenue commitments and earnings visibility support a bullish outlook for Sandisk and peers like Micron Technology.
Citigroup, Evercore ISI, and Bernstein Raise Price Targets on Sandisk
Citigroup reiterated its $2,500 price target on Sandisk, implying around 30% upside from Tuesday's closing price, according to MarketWatch. Evercore ISI analyst Amit Daryanani reiterated his 'Outperform' rating and raised his price target on Sandisk to $3,100 from $1,400, according to Barron's. This implies nearly 62% upside from the stock's last closing price. The brokerage said investors are "underappreciating the durability" of Sandisk's earnings, free cash flow and pricing power as supply-demand imbalances are expected to persist through 2027.
Bernstein analyst Mark Newman also lifted his price target to $3,000 from $1,700, citing changes in the way memory agreements are being structured. The new target implies roughly 57% upside from the stock's last close.
Wedbush analyst Matthew Bryson told MarketWatch that the memory market remains "in a very good place." He said Micron Technology (MU) and Sandisk are benefiting from strong demand, especially from the growth of artificial intelligence. Bryson said chipmakers are unable to quickly increase supply because building new production facilities takes time. As demand continues to outpace supply, he expects the environment to remain favourable for both Sandisk and Micron.
Stocktwits Retail Sentiment Shows Extremely Bullish Outlook
On Stocktwits, retail sentiment for SNDK was 'extremely bullish,' while message volume was 'high' at the time of writing. In a recent Stocktwits poll asking which memory stock could deliver the highest returns over the next year, 19% of nearly 1,800 respondents picked SanDisk. Micron was the top choice with 57% of the vote, followed by SK Hynix at 27%.
According to Koyfin data, 18 of the 22 analysts covering SanDisk rate the stock 'Buy' or 'Strong Buy,' while three have a 'Hold' rating and one rates it 'Sell.' The average 12-month price target is $2,112.32, implying about 10% upside from the last close.
Sandisk Shares Surge Nearly 600% Year to Date
Sandisk shares have surged nearly 600% year to date.
FAQ
What did analysts say about Sandisk stocks after Monday's decline?
Citigroup reiterated a $2,500 price target, Evercore ISI raised its target to $3,100 from $1,400 with an 'Outperform' rating, and Bernstein lifted its target to $3,000 from $1,700. Analysts cited AI-driven memory demand, tight supply through 2027, and strong pricing power.
Why did Sandisk stocks fall on Monday?
Sandisk shares fell 12.63% in Monday's session, caught in a broad-based chip sector selloff. The stock extended losses by 1.06% in after-hours trading. Analysts attributed the decline to recent volatility across the memory sector.
What is the retail sentiment for Sandisk on Stocktwits?
On Stocktwits, retail sentiment for SNDK was 'extremely bullish' with 'high' message volume at the time of writing. In a poll of nearly 1,800 respondents, 19% picked Sandisk as the memory stock with the highest return potential over the next year.
