Sandisk Surges 587% Since IPO, Leading S&P 500 Performance
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Fool
- Sandisk's Stellar Performance: Since its IPO in February, Sandisk's stock has skyrocketed from $38.50 to $232, marking a 587% increase that not only surpasses the S&P 500's 17% annual gain but also highlights strong demand in the data storage market.
- Western Digital's Recovery: As Sandisk's former parent company, Western Digital's stock has risen 283% this year, climbing from $28.83 to $179.56, reflecting a resurgence in the hard drive market and its ongoing competitiveness in data storage.
- Seagate's Technological Growth: Seagate Technology's stock has increased by 226%, from $63.19 to $285.27, indicating a rapid rise in demand for personal and network storage products, particularly in the gaming hard drive sector.
- Rise of Robinhood and Micron: Robinhood's stock has surged 225% to $120.44, benefiting from the rise of commission-free trading, while Micron has seen a 222% increase to $286.49, driven by AI demand, showcasing the strong performance of tech stocks in alignment with market trends.
HOOD
$120.44+Infinity%1D
Analyst Views on HOOD
Wall Street analysts forecast HOOD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HOOD is 151.63 USD with a low forecast of 68.00 USD and a high forecast of 181.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
21 Analyst Rating
14 Buy
6 Hold
1 Sell
Moderate Buy
Current: 120.240
Low
68.00
Averages
151.63
High
181.00
Current: 120.240
Low
68.00
Averages
151.63
High
181.00
About HOOD
Robinhood Markets, Inc. is creating a financial services platform for everyone, regardless of their wealth, income, or background. It uses technology to provide access to the financial system. Its offerings include Brokerage, Robinhood Crypto, Custody, Robinhood Wallet, Robinhood Gold, and Robinhood Gold Card. Its Brokerage services include investing, options trading, fractional trading, recurring investment, access to investing on margin, fully paid securities lending, cash sweep, instant withdrawals, Robinhood retirement, 24-hour market, joint investing accounts, and event contracts. It also offers a variety of ways for its customers to grow their financial knowledge, including Robinhood Learn, In-App Education, Newsfeeds, Sherwood Snacks, and Crypto Learn and Earn. Its self-clearing system, order routing system, data platform, and other back-end infrastructure deliver the capabilities that allow its customers to focus on investing, saving and spending.
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.
