SanDisk Rally Continues on Friday with Shares up 7%. Here’s What Wall Street Is Saying About the Stock.
SanDisk Rally Continues on Friday with Shares up 7%. Here’s What Wall Street Is Saying About the Stock.
Eric BleekerFri, August 14, 2026 at 12:57 PM UTC
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Quick Read -
SNDK surged 7% Friday and 13.67% Thursday after Investor Day prompted J.P. Morgan to resume coverage with a Street-high $2,250 price target.
Micron and SK hynix ADRs climbed 2.7% and 1.15% premarket as investors rotated back into the broader memory complex alongside SanDisk.
SanDisk's New Business Model locked in ~$94B in long-term contracts with floor pricing that guarantees ~80% gross margins, a first for any NAND supplier.
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Wall Street is unambiguously bullish on SanDisk this morning as its rally heads into a second day. SanDisk (NASDAQ:SNDK) shares are up approximately 7% in premarket trading on Friday, extending Thursday's 13.67% session gain after the company's Investor Day triggered a cascade of price-target hikes and a high-profile coverage resumption from J.P. Morgan.
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The move extends across the memory complex. Micron Technology (NASDAQ:MU) traded up 2.7% in premarket as investors rotate back into memory stocks, and SK hynix (NASDAQ:SKHY) ADRs are up 1.15% after the Korean listing closed up 3.3% in Seoul on Thursday. The memory complex is rerating together, and SanDisk is the sharpest expression of that trade.
What Wall Street Is Actually Saying
Four data points anchor the institutional view heading into Friday's open.
First, J.P. Morgan resumed coverage on SNDK with a $2,250 price target, one of the more aggressive Street calls in the current coverage. On the business-model transition, JPMorgan wrote: "the New Business Model (NBM) framework (or LTAs, long-term agreements) has structurally reset SNDK's margin profile higher and materially reduced cyclicality, with 8 signed NBMs representing ~$94B in total contract value at floor pricing, weighted-average contract duration of 4+ years, and ~80% GM even at the floor pricing tier."
Second, Citi maintained a $2,100 price target, based on a 9X 2027 calendar P/E. That multiple is notable because it prices SanDisk like a mature cyclical, not a growth story, and still lands above spot.
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Third, the more conservative shops also moved higher. RBC raised its target to $1,600 from $1,300, and Wells Fargo raised its target to $1,550 from $1,400. Every hand on the table went up. There is no visible bearish counterweight in Friday's coverage.
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For now, buy-side and sell-side agree that the NBM framework has changed the earnings outlook. Management disclosed a minimum $93.9 billion in expected NBM revenue at floor pricing, backed by $16.5 billion in financial guarantees through cash deposits and financial instruments. That is contractual visibility a NAND supplier has never carried before.
SNDK Price Target — 24/7 Wall St.The Gap Between the Street and the Stock
SanDisk closed Thursday at $1,528.11, giving it a market cap of roughly $223.1 billion. Two of the four fresh price targets sit above the current level, and the highest sits well above it. The stock is up 543.74% year-to-date and up 3,150.61% over the past year, yet remains down 13.07% over the past month. Thursday and Friday are a snapback off the July pullback, not a straight-line rip.
The re-rating trigger was Thursday's Investor Day. Management laid out mid-to-high teens revenue growth from FY2028 through FY2030, approximately 80% non-GAAP gross margins, approximately 75% non-GAAP operating margins, and a 50% adjusted free cash flow margin after taxes, capex, and working capital, with 100% of excess cash returned to shareholders. Our full coverage of that framework is here.
SNDK Price Scenario — 24/7 Wall St.The Takeaway
Q4 delivered Non-GAAP EPS of $39.25 against a $33.28 consensus, the fifth consecutive EPS beat, on GAAP gross margin of 84.6%. CEO David Goeckeler framed the setup plainly: "Demand from our customers is growing faster than our supply. We therefore expect bids to remain on allocation beyond calendar year 2027."
The Investor Day targets extend to 2030, and NAND remains a cyclical industry regardless of contract structure. Yet, the added duration SanDisk provided Wall Street means the company could generate more than half its current market cap in profits by the end of their forecast.
SNDK Analyst Ratings — 24/7 Wall St.
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Source: “AOL Money”
