Sandisk (SNDK) Soars to All-Time High, Gets 23% PT Hike

Sandisk (SNDK) surged to an all-time high following a significant 23% price-target hike from at least one analyst, a notable vote of confidence in the recently spun-off NAND flash storage pure-play. The move underscores how bullish sentiment has swiftly built around the company since its separation, with revenue of $7.4 billion growing 10.4% year-over-year through the fiscal year ending June 2025.

The fundamental picture is more complicated. Gross margins sit at a respectable 30.1%, but net margins are deeply negative at -22.3%, and diluted EPS is a loss of $11.32. The gap between top-line growth and bottom-line losses reflects the heavy cost structure and debt load typical of a freshly spun-out memory company still navigating NAND cycle dynamics.

The PT hike and ATH print suggest the market is pricing in a NAND recovery cycle and margin normalization ahead, rather than current earnings power. Bulls will point to the 10.4% revenue growth trajectory and the potential for operating leverage as memory pricing recovers. Bears will note that a stock hitting all-time highs on the back of analyst upgrades — while losing over $11 per diluted share — leaves little margin of safety if the NAND cycle disappoints or takes longer to recover than expected.

The key watchpoints are: trajectory of NAND spot pricing, Sandisk's next earnings print for gross margin progression, and whether additional analysts follow with their own PT raises. A follow-through upgrade wave would reinforce the momentum; any macro softening in data center or consumer storage demand could quickly deflate the narrative at these elevated levels.