Barclays Nearly Doubles SanDisk (SNDK) PT to $750 Following Separation, FQ2 2026 Earnings Beat

Sandisk Corporation (NASDAQ:SNDK) is one of the cheap hot stocks to invest in right now. On February 2, Barclays analyst Tom O’Malley nearly doubled his price target for SanDisk to $750 from $385 while maintaining an Equal Weight rating. This sentiment was announced by the firm following SanDisk’s FQ2 2026 earnings beat.

On January 30, Bank of America raised the price target on Sandisk Corporation (NASDAQ:SNDK) to $850 from $390 while maintaining a Buy rating. This adjustment followed FQ2 report where both revenue and EPS exceeded guidance, alongside FQ3 projections that were described as massively above Street expectations.

Following the report, the firm significantly increased its FY 2026 estimates. Revenue expectations were raised to $15.7 billion from $10.9 billion, while EPS estimates grew to $39.50 from $16.21, reflecting higher margins and profitability than previously anticipated.

Sandisk Corporation (NASDAQ:SNDK) develops, manufactures, and sells data storage devices and solutions using NAND flash tech in the US, Europe, the Middle East, Africa, Asia, and internationally.

While we acknowledge the potential of SNDK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.