Bernstein’s $3,000 price target and Q3 revenue of $5.95 billion fuel SNDK’s rally despite weak retail interest.
SanDisk (NASDAQ:SNDK) shares jumped 14% Tuesday to $1,589, extending its year-to-date gain to 569%, driven by a $3,000 price target from Bernstein and strong Q3 results. The stock remains 27% lower over the past month amid broader market volatility and limited retail participation.
Q3 revenue reached $5.95 billion, up 251% year over year, with the Datacenter segment surging 645% as AI demand accelerates. EPS of $23.41 surpassed consensus estimates of $14.66, while the company retired $650 million in debt, achieving a zero-debt balance sheet. Analysts remain bullish, with a consensus price target of $2,197.32.
Despite Wall Street enthusiasm, retail chatter on platforms like Reddit remains subdued, with SNDK’s activity score at just 13. Competitor Micron (MU) draws far more retail attention despite smaller gains, as SanDisk’s February 2025 spinoff from Western Digital keeps it under the radar for many investors.