Evercore ISI Initiates Coverage on Sandisk with Outperform Rating
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 14 2026
0mins
Should l Buy SNDK?
Source: CNBC
- Coverage Initiation: Evercore ISI has initiated coverage on Sandisk with an outperform rating and a price target of $1,200, indicating a 26% upside from Monday's close, reflecting analysts' optimistic outlook on the company's future performance.
- Strong Growth Potential: Analyst Amit Daryanani highlighted that Sandisk could benefit from the AI boom, with a potential stock surge to $2,600, representing a 173% increase, showcasing strong confidence in the demand for data storage.
- Accelerating Market Demand: With increasing demand for enterprise SSDs and cloud storage, the average selling price for Sandisk is expected to rise, which analysts believe will drive sustained growth and enhance the company's competitive position in the market.
- Capital Return Plans: Daryanani anticipates that Sandisk will begin returning capital to shareholders through buybacks, further boosting investor confidence and improving the company's financial health.
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Analyst Views on SNDK
Wall Street analysts forecast SNDK stock price to fall
14 Analyst Rating
11 Buy
3 Hold
0 Sell
Strong Buy
Current: 932.430
Low
220.00
Averages
283.69
High
410.00
Current: 932.430
Low
220.00
Averages
283.69
High
410.00
About SNDK
SanDisk Corporation is a developer, manufacturer and provider of data storage devices and solutions based on NAND flash technology and has consumer brands and franchises globally. The Company's solutions include a range of solid state drives (SSDs) embedded products, removable cards, universal serial bus (USB) drives, and wafers and components. Its broad portfolio of technology and products addresses multiple end markets of Datacenter, Edge and Consumer. Its Datacenter end market is composed primarily of products for public or private cloud environments and enterprise customers. The Company, through the Edge end market, provides original equipment manufacturer and channel customers a broad array of high-performance flash solutions across personal computer, mobile, gaming, automotive, virtual reality headsets, at-home entertainment, and industrial spaces. The Company serves the Consumer end market with a broad range of retail and other end-user products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Earnings Growth: In the first half of fiscal 2026, Sandisk reported non-GAAP earnings of $7.55 per share, a nearly 150% year-over-year increase, with third-quarter guidance set at $13 per share, indicating a significant enhancement in profitability and an expected year-end EPS of $44.50.
- Strong Market Demand: The price of NAND flash surged by 246% in 2025 due to increased demand from AI data centers for solid-state drives, with Gartner projecting a further 234% price increase in 2026, which will further drive Sandisk's earnings growth.
- Optimistic Future Outlook: Analysts anticipate a 2.5-fold increase in Sandisk's earnings for fiscal 2027, and if EPS reaches $114.38, the stock could potentially hit $2,745 based on the Nasdaq-100 index's earnings multiple, indicating that investors still have opportunities for profit even after the impressive rally.
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- Earnings Expectations: Analyst Yang Zhou anticipates that Sandisk will report FY3Q26 revenue of $4.9 billion with a margin of 71.5% on April 30, indicating strong performance in the consumer electronics sector that could signal positive outcomes for investors.
- Price Increase Trend: Due to tightened supply and demand, smartphone manufacturers are raising storage prices to $0.25/GB, up from $0.12 in FY1Q26, highlighting strong market demand for high-performance storage solutions.
- Future Outlook: Analysts forecast FY4Q26 revenue exceeding $10 billion with margins greater than 84%, while the increase in liabilities suggests significant down payments on long-term agreements, further enhancing Sandisk's market prospects.
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See More
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- Stock Surge: Sandisk's stock has skyrocketed by 285% since early 2026, becoming part of the Nasdaq-100 index, reflecting its strong performance amid soaring demand for flash storage chips, which is expected to continue attracting investor interest.
- Earnings Growth: In the first half of fiscal 2026, Sandisk reported non-GAAP earnings of $7.55 per share, a nearly 150% year-over-year increase, with third-quarter guidance set at $13 per share, indicating a significant enhancement in profitability and an expected year-end EPS of $44.50.
- Strong Market Demand: The price of NAND flash surged by 246% in 2025 due to increased demand from AI data centers for solid-state drives, with Gartner projecting a further 234% price increase in 2026, which will further drive Sandisk's earnings growth.
- Optimistic Future Outlook: Analysts anticipate a 2.5-fold increase in Sandisk's earnings for fiscal 2027, and if EPS reaches $114.38, the stock could potentially hit $2,745 based on the Nasdaq-100 index's earnings multiple, indicating that investors still have opportunities for profit even after the impressive rally.
See More
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- Rating Upgrade: Sandisk (SNDK) was upgraded to Buy by GF Securities, with a price target set at $1,277, reflecting strong confidence in the company's future performance, which led to a 2.6% rise in premarket trading.
- Earnings Expectations: Analyst Yang Zhou anticipates that Sandisk will report FY3Q26 revenue of $4.9 billion with a margin of 71.5% on April 30, indicating strong performance in the consumer electronics sector that could signal positive outcomes for investors.
- Price Increase Trend: Due to tightened supply and demand, smartphone manufacturers are raising storage prices to $0.25/GB, up from $0.12 in FY1Q26, highlighting strong market demand for high-performance storage solutions.
- Future Outlook: Analysts forecast FY4Q26 revenue exceeding $10 billion with margins greater than 84%, while the increase in liabilities suggests significant down payments on long-term agreements, further enhancing Sandisk's market prospects.
See More
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- Intel's Strong Earnings: Intel reported adjusted earnings of $0.29 per share and revenue of $13.58 billion for Q1, both surpassing analyst expectations, leading to a nearly 27% surge in shares, indicating a robust recovery potential in the chip market.
- Procter & Gamble's Positive Results: Procter & Gamble achieved an adjusted earnings of $1.63 per share and revenue of $21.24 billion for Q3, exceeding market expectations, resulting in a more than 3% increase in stock price, reflecting sustained consumer demand.
- AMD Stock Rebound: Following Intel's earnings boost, AMD shares surged nearly 12%, as investor confidence in the AI sector was renewed, suggesting an optimistic sentiment towards the semiconductor industry.
- SLM Raises Earnings Guidance: SLM reported Q1 earnings of $1.54 per share, an increase from the previous year, and raised its full-year earnings guidance to between $3.10 and $3.20 per share, indicating strong growth potential in the student loan market.
See More
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- POET Order Confirmation: POET Technologies' CFO confirmed a commercial purchase order linked to Marvell in a Stocktwits interview, leading to a stock surge of over 24%, which bolstered market confidence in its optical interposer technology and is expected to attract more hyperscale cloud customers.
- Navitas Power Efficiency: Navitas Semiconductor's stock rose over 20% due to momentum from its gallium nitride and silicon carbide technologies, with its 800-volt power systems designed for high-density AI data centers addressing critical energy consumption and heat management challenges.
- SanDisk Nasdaq-100 Performance: Following its separation from Western Digital, SanDisk's stock climbed over 8% after being included in the Nasdaq-100, solidifying its position as a key supplier in the AI-driven memory market, particularly in 3D NAND flash technology.
- Investor Enthusiasm Shift: Stocks of POET, Navitas, and SanDisk reached fresh 52-week highs, reflecting a shift in investor focus towards AI infrastructure, with POET and Navitas seeing increases of over 24% and 20% respectively, indicating strong market demand for related technologies.
See More
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- Jobless Claims Data: The jobless claims figure expected to be released on Thursday is 210,000, with market reactions likely to influence investor sentiment; if the data exceeds expectations, it could trigger market volatility amid ongoing economic recovery concerns.
- Tesla Earnings Performance: Tesla's earnings report beat profit expectations but missed revenue forecasts, resulting in a roughly 1% decline in after-hours trading, with the stock now 22% below its December high, indicating market concerns about its growth prospects.
- ServiceNow's Challenges: ServiceNow exceeded earnings expectations and raised guidance in its latest report, yet the ongoing war in Iran is disrupting subscription growth in the Middle East, leading to a 12% drop in after-hours trading and a 33% decline year-to-date, highlighting geopolitical risks impacting business.
- Agricultural Stock Pressure: Tractor Supply hit a new 52-week low, affected by rising gasoline and fertilizer prices, reflecting challenges faced by global agriculture and potentially diminishing investor confidence in agricultural-related stocks.
See More
Micron Technology Shares Surge 8.5% Amid AI Demand Optimism
- Significant Price Surge: Micron Technology (MU) shares rose by 8.5% to close at $487.48, reflecting increased market confidence in AI memory demand and benefiting from news of a ceasefire in Iran.
- Volume Spike: Trading volume reached 45.4 million shares, 9.6% above the three-month average, indicating strong investor interest in Micron, which may signal potential for continued growth.
- Outstanding Historical Performance: Since its IPO in 1984, Micron's stock has appreciated by 34,411%, with over 145% growth in the past six months, despite some volatility, showcasing its strong position in the memory market.
- Market Outlook Analysis: While current memory demand remains robust, investors express concerns about the sustainability of future growth, particularly if technological advancements reduce AI's memory needs, which could exert downward pressure on the stock.
See More
