SanDisk (NASDAQ: SNDK) stock has come a long way since the first regular session of 2026 as it soared from $275.24 to $2,050.39 at the latest close, and Wall Street analysts appear to believe the rally will slow down only slightly.
Indeed, Bernstein’s Mark Newman lifted his SNDK 12-month price target from $1,700 to $3,000 on June 19 for a 46.31% predicted rally, while confirming he still considers the equity a ‘Buy.’
According to the Wall Street analyst, SanDisk’s more recent memory deals provide substantial tailwinds to the stock due to several key differences compared to previous agreements.
Specifically, Newman highlighted that the newer batch is more favorable to the seller – SanDisk – than to the buyers, considering it features fixed or range-bound prices, has longer terms, and boasts mechanisms to lock in customers such as upfront financial commitments.
Wall Street sets SanDisk stock price target for the next 12 months
Meanwhile, SNDK shares’ rapid rally in 2026 has led to a quaint situation on stock price target aggregator sites. For example, SanDisk is considered a ‘Strong Buy’ on the popular analysis platform TipRanks despite being expected to fall 4.68% to $1,954.38 in the next 12 months on average.
Still, the more recent forecast updates indicate that the mismatch is a quirk of aggregators taking account of all notes provided in the last three months, rather than a sign of waning confidence.
Between May 1 and press time on June 30, there has been only one ‘Neutral’ rating – issued by RBC Capital analyst Srini Pajjuri and accompanied by a $1,000 price target – for SNDK shares and no ‘Sell’ recommendations.
Simultaneously, the bullish forecasts have been piling up, with a majority of them featuring significant stock price estimate upgrades.
Specifically, most revisions published since June started featured significant forecast updates, usually lifting the older and once bullish expectations to new targets well above $2,000, with Bernstein’s increase to $3,000 being the most recent – and one of the biggest – example.
The only exception to the trend came on June 22, when Joseph Moore, a Morgan Stanley (NYSE: MS) analyst, rated SNDK stock a ‘Buy’ but kept his previous $1,750 prediction, effectively warning of a 14.65% decline over the next 52 weeks.
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