Price Prediction: Up 1400% in 2026, This Is Where We See SanDisk Heading

Vandita JadejaThu, June 4, 2026 at 1:56 PM UTC

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SanDisk (SNDK) reported Q3 FY26 revenue of $5.95B, up 251% YoY, with the Datacenter segment surging 645% YoY to $1.47B and non-GAAP EPS of $23.41 beating consensus by 59.67%, while gross margin expanded to 78.4% from 22.5% a year earlier.

SanDisk has rallied 642% year to date but trades at a 57x forward P/E that has outpaced fundamentals, with 24/7 Wall St. issuing a sell rating with a $1,453.48 price target implying 17.48% downside despite the company's exceptional execution on AI-driven Datacenter demand.

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After a vertical run that has minted one of the most extraordinary rallies of this cycle, the real question for SanDisk (NASDAQ:SNDK) is whether the price has finally outrun the fundamentals.

Our 24/7 Wall St. price target for SanDisk is $1,453.48, which sits below the current quote of $1,761.43 and implies a 17.48% downside over the next 12 months. Our recommendation is sell, with a confidence level of 90%.

Metric

Value

Current Price

$1,761.43

24/7 Wall St. Price Target

$1,453.48

Upside/Downside

-17.48%

Recommendation

Confidence Level

90%

Why We Could Be Wrong

Before going further, the 24/7 Wall St. price target of $1,453.48 sits well below where SanDisk trades today, and that gap deserves humility. SanDisk is one of the most divisive stocks on NASDAQ right now, and real upside could come from a structural NAND shortage extending past 2028 or from BiCS8 ramping faster than guidance suggests. Treat our number as one datapoint among many. A full bull case follows below.

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From $41 to $1,761 in Ten Months

SanDisk is up 642.03% year to date, 48.39% in the past month, and 19.12% in the past week alone. The stock trades just below its 52-week high of $1,708.83 after starting that range at $36.87.

Q3 FY26 revenue hit $5.95B, up 251.03% YoY, with EPS of $23.41 beating consensus by 59.67%. The Datacenter segment grew 645% YoY to $1.47B, validating the AI inference thesis.

The Case for $1,800+

CEO David Goeckeler called Q3 "a fundamental inflection point" driven by the mix shift toward Datacenter. Q4 FY26 guidance calls for revenue of $7.75B to $8.25B and non-GAAP EPS of $30 to $33. Gross margin already expanded to 78.4% from 22.5% a year earlier.

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The balance sheet carries zero long-term debt and $3.74B in cash. The consensus analyst target sits at $1,609.27 with 16 Buys and only 1 Strong Sell. Our bull case puts SanDisk at $1,778.23, modestly above today, if HBF qualification accelerates and NAND pricing holds.

The Risks Worth Watching

At the current price, SNDK trades at an implied forward P/E of 57, which is rich for a memory cyclical even one positioned for AI. Risks include reliance on the Kioxia Flash Ventures JV, customer concentration among hyperscalers, and tariff exposure. The Consumer segment already declined 10% sequentially in Q3.

Counterfactually, bulls would argue that margin trajectory and the five signed multi-year New Business Model contracts insulate against cyclical softness. Our bear case targets $1,027.39, implying 41.67% downside if NAND pricing rolls over.

SanDisk Price Prediction 2026-2030

The 24/7 Wall St. price target for SanDisk is $1,453.48, the recommendation is sell, and confidence is 90%. Valuation is the tipping factor: the fundamentals are exceptional, but the price has already discounted them.

The bull thesis strengthens if Q4 EPS comes in above $33 and management signals NBM contract expansion into FY27. I'd stay on the sidelines if Datacenter sequential growth decelerates below 50% or if BiCS8 share fails to scale. For long-term holders sitting on a 4,573.47% one-year gain, trimming may be worth modeling as risk management.

Year

24/7 Wall St. Price Target

2026

$1,453

2027

$1,398

2028

$1,350

2029

$1,320

2030

$1,317

These projections assume SanDisk continues executing on its current strategy. Significant upside could result from the NAND shortage persisting past 2028, while downside could come from a cyclical pricing reset.

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Source: “AOL Money”