SanDisk (SNDK), the flash memory solution provider, is scheduled to announce its results for the third quarter of Fiscal 2026 today, April 30. SNDK stock has rallied more than 348% year-to-date, driven by robust memory demand to support the strong growth in AI data centers. Wall Street analysts expect the company to post revenues of $4.69 billion, up over 175% from the year-ago quarter, according to data from the TipRanks Forecast page.
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Forget margin or options. Here's how the pros trade SNDKMeanwhile, they expect SanDisk to report EPS (earnings per share) of $14.45, reflecting a significant improvement from a loss of $0.30 in the prior-year quarter. Notably, SNDK has an encouraging earnings surprise history. The company has beaten earnings estimates in each of the past four quarters.
Analysts’ Views on SNDK Ahead of Q3 Results
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.”
Mohan believes the current memory cycle could last longer than usual, supported by steady demand from AI and a shift toward data centers, which are less cyclical. Mohan also noted that supply remains disciplined, while SanDisk is seeing a growing share of revenue from cloud and data center customers. Based on these trends, he raised his valuation outlook, expecting stronger earnings over time.
Similarly, Amit Daryanani of Evercore ISI initiated coverage on SanDisk with an Outperform rating and a $1,200 price target, saying the stock remains a key AI beneficiary despite its sharp run. The firm sees further upside, driven by a more durable NAND cycle supported by AI-led demand and tighter supply. It also highlighted the rise of long-term contracts with cloud players, which improve pricing visibility and reduce volatility.
In addition, SanDisk’s partnership with Kioxia and its growing exposure to higher-margin data center customers are expected to support stronger earnings over time.
Is SNDK a Good Stock to Buy?
Ahead of Q3 earnings, Wall Street has a Strong Buy consensus rating on SanDisk stock based on 12 Buys and three Holds. The average SNDK stock price target of $1,008.00 indicates 0.56% upside risk.
