SanDisk Stock Can Nearly Triple After Fresh Peak On Nasdaq-100 Inclusion: Analyst Makes ‘Bull Case’

• SanDisk will join the Nasdaq-100 index on April 20.
• Evercore initiated coverage on SNDK with an ‘Outperform’ rating and Citi bumped its price target on the stock.
• Stocktwits sentiment climbed higher in the ‘extremely bullish’ zone.

SanDisk Corp.’s shares gained nearly 12% on Monday and a further 3.3% in the extended session, fueled by news of its upcoming inclusion in the Nasdaq-100 index next week and fresh bullish analyst commentary.

Inclusion in the coveted index triggers strong buying from institutional investors mandated to track it, sparking an initial spike in the stocks that secure a spot.

Scope To Surge 173% More?

Meanwhile, Evercore ISI initiated coverage on SNDK on Monday, while Citi raised its price target on shares to $980 from $875. 

Evercore placed a price target of $1,200 with a ‘bull case’ target of $2,600 and an ‘Outperform’ rating. The targets imply a 26% and a 173% upside, respectively, from the stock’s last close.

SanDisk is "levered to one of the most attractive areas of the AI infrastructure stack," namely data storage, where demand is accelerating and supply remains constrained "at minimum" through calendar 2028, if not beyond, the research firm said in its investor note.

Similarly, Citi cited continued solid supply-demand dynamics for storage and improving pricing dynamics to justify its price target boost. 

SanDisk is one of the key stocks watched in what is clearly a memory supercycle. Surging demand from AI data centers has triggered shortages, putting upward pressure on prices. SanDisk shares have gained a whopping 2,722% in the past 12 months.

The stock was the best S&P 500 performer last year and, so far, leads the index in 2026 as well.

Retail’s View On SNDK

On Stocktwits, the retail sentiment for SNDK climbed higher in the ‘extremely bullish’ zone (95/100), with the ticker trending heavily on Monday and several traders eyeing the psychological milestone of $1,000.

“$SNDK this is definitely hitting 1k before regular market tomorrow,” said a trader, while another wrote: “Usually these market index inclusions mark a top in the share price.”

As in the recent weeks, traders debated whether SNDK would continue to rally or hold its gains, while others forecast an imminent drop. “$SNDK total insanity. At its heart, this co. makes commodity products and has no moat,” argued a user.

SanDisk is scheduled to report its fiscal third-quarter results on April 30. Year to date, the stock has already gained by over 300%

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