SNDK Stock Is Sliding After-Hours — Why Wall Street Is Getting More Bullish On Sandisk Despite The Selloff

• Citi reaffirmed its price target, while Evercore ISI lifted its target and maintained an ‘Outperform’ rating.
• Evercore said investors are underestimating Sandisk’s earnings potential as strong pricing power and tight supply conditions could persist through 2027.
• AI-fuelled memory demand and limited chip manufacturing capacity are expected to keep supply tight, supporting pricing power for Sandisk and the broader memory sector.

Shares of Sandisk Corp. (SNDK) were caught in Monday’s broad-based chip selloff and have been hit by volatility across the memory sector in recent weeks. But Wall Street has reportedly looked past the weakness, with many analysts reaffirming or raising their price targets, citing stronger earnings visibility, long-term revenue commitments and sustained demand for memory driven by artificial intelligence.

The SNDK stock closed Monday’s session down 12.63% and extended its losses in after-hours trading. At the time of writing, the stock was down a further 1.06%.

Analysts Stay Bullish On SNDK

Despite the stock decline, Citigroup reiterated its $2,500 price target, implying around 30% upside from Tuesday’s closing price, according to MarketWatch.

Evercore ISI analyst Amit Daryanani reiterated his ‘Outperform’ rating and raised his price target on Sandisk to $3,100 from $1,400, according to Barron’s. This implies nearly 62% upside from the stock’s last closing price. The brokerage said investors are "underappreciating the durability" of Sandisk's earnings, free cash flow and pricing power as supply-demand imbalances are expected to persist through 2027.

Bernstein analyst Mark Newman also lifted his price target to $3,000 from $1,700, citing changes in the way memory agreements are being structured. The new target implies roughly 57% upside from the stock's last close.

Wedbush analyst Matthew Bryson told MarketWatch that the memory market remains “in a very good place.” He said Micron Technology (MU) and Sandisk are benefiting from strong demand, especially from the growth of artificial intelligence. Bryson said chipmakers are unable to quickly increase supply because building new production facilities takes time. As demand continues to outpace supply, he expects the environment to remain favourable for both Sandisk and Micron.

SNDK Stock: What Stocktwits Retail Sentiment Says

On Stocktwits, retail sentiment for SNDK was ‘extremely bullish,’ while message volume was ‘high’ at the time of writing.

In a recent Stocktwits poll asking which memory stock could deliver the highest returns over the next year, 19% of nearly 1,800 respondents picked SanDisk. Micron was the top choice with 57% of the vote, followed by SK Hynix at 27%.

According to Koyfin data, 18 of the 22 analysts covering SanDisk rate the stock ‘Buy’ or ‘Strong Buy,’ while three have a ‘Hold’ rating and one rates it ‘Sell.’ The average 12-month price target is $2,112.32, implying about 10% upside from the last close.

SanDisk shares have surged nearly 600% year to date.

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