Sandisk shares jumped to a fresh high after two analysts raised their price targets, with both saying NAND flash prices are moving faster than they expected. Bernstein lifted its target on Sandisk to $1,250 from $1,000 and kept an Outperform rating, while Cantor Fitzgerald raised its target to $1,000 from $800 and maintained an Overweight rating.
The stock closed at $851.57, up 9% on volume of 19.8 million shares. That puts the move in the same week that Sandisk’s stock has already gained 2,228% over the past year, a surge that has turned the memory company into one of the market’s most aggressive winners as pricing has tightened across the chip cycle.
The upgrade calls came after Sandisk reported fiscal second-quarter 2026 revenue of $3.03 billion, up 61% from a year earlier and 31% from the prior quarter. Data-center revenue reached $440 million, up 76% year over year, and gross margins expanded toward 50% on the pricing tailwind. Analysts now expect third-quarter revenue to rise more than 50% sequentially at the midpoint of guidance.
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Bernstein’s view was grounded in its March memory tracker, which pointed to NAND average selling prices accelerating faster than expected. That matters because Sandisk is a focused NAND specialist, not a diversified memory maker, so shifts in flash pricing land directly on its results. The company’s trailing 12-month revenue was $8.93 billion, while Micron Technologies’ annualized run-rate was described as north of $20 billion.
The contrast with Micron is useful but incomplete. Micron reported fiscal first-quarter DRAM revenue of $10.8 billion, up 69% year over year, and NAND revenue of $2.7 billion, up 22%. Sandisk does not have that broader mix to lean on, which makes its upside more tightly tied to NAND pricing and demand in data centers. If the pricing trend holds, the stock’s next move will be judged less by how high it has already climbed than by how long the memory squeeze lasts.
