SanDisk (SNDK) stock gained 13.3% in regular trading on November 24 and rose another 7.3% in after-hours trading following a series of positive developments. The stock is poised to join the most coveted S&P 500 index (SPX), effective November 28. At the same time, several Wall Street analysts raised their price targets on SNDK stock, further boosting the stock’s momentum. Since its initial listing in February 2025, SNDK stock has skyrocketed over 519%.
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SanDisk is an American technology company that designs and manufactures flash memory products, including memory cards, USB flash drives, and solid-state drives (SSDs). The company is set to replace Interpublic Group of Companies (IPG), which is being acquired by Omnicom Group Inc. (OMC). Meanwhile, SanDisk’s place in the S&P SmallCap 600 index will be taken by PTC Therapeutics (PTCT).
Analysts Get More Bullish on SNDK Stock
SanDisk reported better-than-expected Q1FY26 results recently, beating both sales and earnings estimates. Despite this, memory chip stocks as a whole have faced large share price declines due to concerns about chip shortages in the market.
Following the results, Fox Advisors analyst Steven Fox upgraded the stock to a Buy rating from Hold, and kept his $280 price target, which implies 23.4% upside potential. Fox highlighted that SanDisk’s results and guidance reveal a significantly tighter NAND supply situation than originally anticipated, and thus sees better demand prospects ahead.
Meanwhile, Bank of America Securities analyst Wamsi Mohan kept his Buy rating and lifted the price target from $270 to a Street-High of $300, implying 32.2% upside potential. Mohan cited catalysts such as continued undersupply in the NAND market through 2026, strong demand from datacenters and AI, low industry inventory, expanding eSSD production, potential market share gains, and greater visibility from customers.
On November 21, Morgan Stanley analyst Joseph Moore lifted his price target from $263 to $273, implying 20.3% upside potential. Moore kept his Buy rating and cited the recent selloffs in memory stocks due to concerns about higher capital spending and potential easing of shortages but believes these do not affect its positive outlook.
Is SNDK Stock a Buy?
On TipRanks, SanDisk stock has a Strong Buy consensus rating based on 12 Buys and one Hold rating. The average SanDisk price target of $271 implies 19.4% upside potential from current levels.
