SanDisk Corp (NASDAQ:SNDK) shares are trending higher Monday morning. The move follows a storm of stellar earnings and aggressive price forecast hikes.
Analysts Raise Price Targets
Wall Street is reacting to SanDisk’s massive third-quarter beat. Citigroup raised its price forecast to $1,300 on Friday. Barclays and Wedbush analysts both moved their targets to $1,200.
Massive Contractual Revenue Moat
Management revealed five long-term supply agreements during the earnings call. CFO Luis Felipe Visoso stated these deals imply “minimum contractual revenue of approximately $42 billion.” These new business models cover over one-third of the expected 2027 bit volume.
Pricing Power and Data Center Growth
Wedbush analyst Matt Bryson noted SanDisk is “successful in lifting pricing at a faster rate than the broader industry.” Revenue hit $5.95 billion, fueled by a 233% surge in datacenter sales.
CEO David Goeckeler called the quarter a “fundamental inflection point” for the company.
Bullish Forward Guidance
The company expects fourth-quarter earnings per share between $30 and $33. This guidance dwarfs the analyst’s estimate of $22.01.
Sandisk’s Key Levels and Momentum Indicators
Sandisk is pressing into fresh 52-week-high territory, which is consistent with buyers staying in control of the longer-term trend.
The stock is trading 29.9% above its 20-day simple moving average (SMA) and 107.7% above its 100-day SMA, a setup that leans toward strong short-term momentum on top of an already-extended intermediate trend.
The relative strength index (RSI), a momentum gauge, is 73.67.
- Key Resistance: $1189 — near the prior 52-week high area, where breakouts can get retested.
- Key Support: $947.50 — near the 20-day EMA zone where dip-buyers often show up first.
SNDK Price Action: SanDisk shares were up 5.72% at $1254.90 at the time of publication on Monday. The stock is trading at a new 52-week high, according to Benzinga Pro data.
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