SanDisk (SNDK) stock has rallied 288% year-to-date, driven by robust memory demand to support the rapid growth in AI data centers. The flash memory solution provider is scheduled to announce its results for the third quarter of Fiscal 2026 on April 30. Ahead of Q3 earnings, top Bank of America analyst Wamsi Mohan raised his price target for SNDK stock to $1,080 from $900 and reiterated a Buy rating on “secular opportunity as AI inference makes NAND more indispensable.”
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Two ETFs for long or short leverage on SNDKMeanwhile, Wall Street expects SanDisk to report EPS (earnings per share) of $14.30, reflecting a significant improvement from a loss of $0.30 in the prior-year quarter. Revenue is projected to surge 175% year-over-year to $4.66 billion.
BofA Analyst Sees Continued Growth in SanDisk
Mohan stated that investors often question him about the sustainability of the massive jump in NAND pricing, whether we are in a typical memory cycle, and whether margins have peaked. The 5-star analyst believes that the memory cycle will continue for a longer period this time due to the following reasons:
- A shift in mix toward data centers, which is inherently a less cyclical end market than client/consumer.
- Sustainable NAND demand from AI inferencing in the medium-term.
- NAND suppliers are being rational and increasing supply carefully.
- SanDisk has seen a significant shift in its mix toward cloud/data center revenue (from 1% in Q1 FY24 to about 15% in Q2 FY26). The analyst sees further mix shift to this key end market.
Given all these positives, Mohan increased his price target for SanDisk stock based on a valuation multiple of about 10x calendar year 2027 EPS (earnings per share) estimate of $111.32, up from the prior expectation of $90.21.
Mohan ranks No. 40 out of more than 12,200 analysts on TipRanks. He has a success rate of 65% and an average return per rating of 36.80% over a one-year period.
Is SNDK a Good Stock to Buy?
Ahead of Q3 earnings, Wall Street has a Strong Buy consensus rating on SanDisk stock based on 11 Buys and three Holds. The average SNDK stock price target of $883.21 indicates 4.1% downside risk.
