Although SanDisk Corp. (NASDAQ: SNDK) stock is on track to post its first quarterly loss since Q3 2025 in Q3 2026, due to cooling demand for memory chips, Mark Newman, a Wall Street analyst at Bernstein, expects another rally towards a new peak over the next 12 months.
Newman maintained a ‘Buy’ rating for SanDisk stock, according to a note sent to clients on September 29. He also reiterated the firm’s 12-month price target for SNDK at $3,000.
As SNDK’s price traded at approximately $1,709 on Tuesday, this analyst indicates a potential 75.54% upside over the next 12 months.
This reaffirmation rests on the company’s superiority of the new agreements relative to prior arrangements and to those of competitors.
Furthermore, Newman noted that SanDisk’s newly structured long-term agreements fundamentally transform its earnings profile. Specifically, he highlighted that these contracts embed fixed pricing floors near current market levels of around $0.29 per gigabyte, thereby shielding the company from the severe cyclical downturns.
Is SanDisk a good stock to buy?
At the time of writing, 17 Wall Street analysts surveyed by TipRanks over the last 3 months have set an average ‘Strong Buy’ rating for SanDisk stock. These sampled analysts have a price target for SNDK of $2,195.29, which signals a possible 28% upside.
The highest 12-month price forecast for SanDisk is $3,000, while the lowest is $1,550.
SNDK price performance
Over the past 12 months, SanDisk stock has surged by over 1542%. As a result, the company’s market capitalization has rocketed to $250.8 billion at the time of publication.
Even though SNDK’s price has fallen by more than 18% over the past three months, Wall Street analysts believe another rally towards the all-time high (ATH) is likely over the next 12 months.
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