Wall Street Expects SanDisk’s Q3 Revenue To Surge 178% — Wedbush Hikes SNDK Stock Price Target By 62%

• Wedbush analyst Matt Bryson raised his price target on SanDisk by 62% to $1,200 from $740 while maintaining an ‘Outperform’ rating.
• The analyst noted that his estimate remains relatively conservative relative to end-market trends, adding that SanDisk has been able to raise memory module prices faster than the broader industry.
• Bryson said the new price target reflects better-than-expected memory pricing conditions in the current quarter as well as a better pricing setup heading into the April-June quarter.

SanDisk Corp. (SNDK) is expected to report a 178% year-on-year surge in revenue in the third quarter, according to Wall Street estimates, as the artificial intelligence-fueled memory price rally continues.

According to data from Fiscal.ai, Wall Street analysts expect SanDisk to report revenue of $4.73 billion in the third quarter (Q3), compared to $1.7 billion during the same period a year ago.

Meanwhile, according to the consensus estimate, SanDisk is expected to report earnings per share (EPS) of $14.66 in Q3, compared to a loss of $0.3 per share during the same period a year ago.

SanDisk shares were up more than 3% by Thursday mid-morning.

Wedbush Sees SNDK Stock Soaring Further

According to TheFly, Wedbush analyst Matt Bryson raised his price target on SanDisk by 62% to $1,200 from $740 while maintaining an ‘Outperform’ rating.

Bryson’s price target hike comes even as SNDK stock has surged by more than 364% year-to-date. The analyst noted that his estimate remains relatively conservative relative to end-market trends, adding that SanDisk has been able to raise memory module prices faster than the broader industry.

Bryson added in the note that the new price target for SanDisk reflects better-than-expected memory pricing conditions in the current quarter as well as a better pricing setup heading into the calendar second quarter (Q2), which is the April to June period.

Analysts at Melius Research stated earlier this week that they expect the AI memory cycle to continue through the end of the decade, adding that the market will eventually be ready to pay more for the higher margins and demand profiles that AI makes possible across the storage segment.

BofA highlighted that this time around, it expects NAND pricing trends to persist for a longer cycle as demand shifts to data centers and AI inference.

According to market research firm TrendForce, NAND prices are set to keep rising into 2026, with contract prices expected to climb another 70% to 75% sequentially in Q2, driven by AI and data center demand.

The firm added that prices have already increased 85% to 90% in the first quarter.

How Did Retail Traders React?

Retail sentiment on Stocktwits around SanDisk trended in the ‘extremely bullish’ territory, with message volumes at ‘high’ levels at the time of writing.

One user sounded optimistic about the stock’s prospects.

Another user noted that memory demand has been running hot, driven by AI and tighter supply trends.

SNDK stock is up 364% year-to-date and 3,306% over the past 12 months. The S&P 500 ETF (SPY) is up 28% over the past 12 months, while the Vanguard Growth Index Fund ETF (VUG) is up 31%.

The Invesco QQQ Trust (QQQ) is up 39% during this period, while the State Street Technology Select Sector SPDR ETF (XLK) is up 51%.

Also See: PCE Report: Fed's Preferred Inflation Gauge Rises 3.5% In March, Q1 GDP Comes In At 2%

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