Sandisk Corp. (NASDAQ:SNDK) reported a blockbuster second-quarter report with eye-popping forward guidance. Analysts are responding on Friday with exceptionally bullish commentary and price target increases.
‘Holy Schnikes'
In a sea of price target raises, Cantor Fitzgerald stood out as one of the largest—analyst C.J. Muse maintained an Overweight rating on SNDK and raised the price target from $550 to $800.
Some of the key market drivers Muse highlighted are:
- AI/Inference: Data Center demand is up 64%, with AI applications driving customers to plan capacity needs through the end of the decade.
- Supply Scarcity: A lack of NAND creates an existential threat to data center buildouts, giving SanDisk major pricing power and visibility into demand through 2027.
- Consumer Strength: Revenue in the consumer segment was up 50% year-over-year, further diversifying the growth.
SanDisk shares have gained more than 1,400% in the last year and expectations were high heading into earnings.
"SanDisk delivered the goods and then some," Muse wrote in his update titled, "Holy Schnikes."
Analyst Updates
The following firms also updated coverage on SanDisk after the print:
- Wedbush analyst Matt Bryson maintained an Outperform and raised the price target from $600 to $740.
- RBC Capital analyst Srini Pajjuri maintained SanDisk with a Sector Perform and raised the price target from $400 to $650.
- Morgan Stanley analyst Joseph Moore reiterated an Overweight rating and raised the price target from $483 to $690.
- Goldman Sachs analyst James Schneider maintained SanDisk as a Buy and raised the price target from $320 to $700.
SNDK Price Action: SanDisk shares were trading % higher at $ heading into Friday's closing bell, according to data from Benzinga Pro.
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