SNDK Stock Has Rallied 285% This Year, But Analyst Says There's More Upside Ahead Of Nasdaq 100 Entry

• BofA noted that NAND pricing trends are sustainable in the medium term, with suppliers being rational in their pricing.
• It also highlighted that memory suppliers are adding supply judiciously, which supports its bullish outlook for SanDisk.
• According to a recent report by market research firm TrendForce, NAND contract prices are expected to rise by a further 70% to 75% sequentially in the second quarter.

SanDisk Corp. (SNDK) shares have soared more than 287% in 2026 to date, but analysts on Wall Street are still bullish about the stock’s prospects going forward.

According to TheFly, analysts at BofA expressed optimism about SanDisk, hiking their price target to $1,080 from $900. This implies an upside of about 18% from current levels.

However, SanDisk shares were down nearly 2% in Friday’s opening trade.

Why Is BofA Still Bullish On SNDK?

BofA highlighted that NAND memory prices, a type of non-volatile storage technology, are up “massively” this year. The firm added that this time around, it sees NAND pricing trends lasting longer because demand is shifting to data centers and AI inference.

BofA noted that NAND pricing trends are sustainable in the medium term, with suppliers being rational in their pricing. It also highlighted that memory suppliers are adding supply judiciously, which supports its bullish outlook for SanDisk.

According to a recent report by market research firm TrendForce, NAND prices are expected to continue rising in 2026. The firm added that NAND contract prices are expected to rise by a further 70% to 75% sequentially in the second quarter (Q2) this year, driven by demand from AI and data centers. It also stated that NAND prices are already up by 85% to 90% in the first quarter (Q1).

Analysts at Evercore ISI initiated coverage of SanDisk earlier this week, assigning a bull-case price target of $2,600. The firm said SanDisk is well-positioned in one of the most attractive AI infrastructure segments, which is data storage, where demand is surging while supply remains tight.

Evercore ISI has an ‘Outperform’ rating on SanDisk.

Citi analyst Asiya Merchant also raised the firm’s price target for SanDisk to $980 from $875 while keeping a ‘Buy’ rating on the stock. Merchant highlighted the improving pricing dynamics of storage as well as a solid demand-supply scenario as reasons for the bullish outlook.

SanDisk To Join Nasdaq 100 Next Week

SanDisk is set to join the Nasdaq 100 index starting April 20, 2026, replacing Atlassian Corp. (TEAM).

The firm’s inclusion in the index will lead to its stock being added to more funds, which could trigger additional buying by institutions. The index is also tracked by more than 200 investment products with over $600 billion in assets under management globally, including the popular Invesco QQQ Trust.

How Did Retail Traders React?

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

One bullish user on the platform stated that they wouldn’t want to bet against SanDisk ahead of the inclusion in the Nasdaq 100 index.

SNDK stock is up 285% year-to-date and 2,819% over the past 12 months. The S&P 500 ETF (SPY) is up 33% over the past 12 months, while the Vanguard Growth Index Fund ETF (VUG) is up 39%.

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