Is There More Room for Sandisk Stock to Climb in 2026?

Sandisk Stock Surges: Analyst Sees More Room to Run

Sandisk (SNDK) shares have already more than doubled in value this month, and according to Cantor Fitzgerald analyst Christopher Muse, there may be even greater gains ahead through the end of 2026.

Muse’s optimistic outlook follows Sandisk’s impressive second-quarter earnings, which far surpassed Wall Street’s expectations on January 29.

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This morning, investors responded enthusiastically as the flash memory specialist projected earnings of $13 per share for the current quarter—more than twice the $5.11 analysts had anticipated.

After this earnings-driven surge, Sandisk’s stock is now trading at nearly 20 times its price from April 2025.

How High Could Sandisk Go in 2026?

Christopher Muse predicts that NAND flash prices could rise by another 50% in Sandisk’s third fiscal quarter, giving the company a rare level of pricing strength in the memory industry.

This favorable environment could lift Sandisk’s gross margin to an impressive 67% this year, a significant jump from less than 35% just a few months prior, according to Muse’s latest research note.

The analyst also highlighted the importance of Sandisk’s enterprise SSDs in powering large-scale artificial intelligence infrastructure, suggesting the stock could reach $800 by the close of 2026.

Muse’s updated price target implies the potential for an additional 35% upside from current levels.

Sandisk Shares Offer Relative Value

Muse also noted that customers are now entering into multi-year contracts with Sandisk, moving away from the previous practice of renegotiating prices each quarter. This shift could help smooth out the company’s earnings cycles.

Furthermore, Sandisk’s forward price-to-earnings ratio stands at about 34, which is lower than Nvidia’s 43 at the time of writing, making SNDK shares relatively affordable.

The analyst projects Sandisk will earn $77 per share this year, with that figure rising to $91 by 2027.

Currently, Sandisk’s stock price is well above its key moving averages, underscoring the strength of the ongoing bullish trend.

Wall Street’s Positive Outlook on Sandisk

It’s also notable that Wall Street analysts, on average, maintain a “Moderate Buy” recommendation for SNDK shares.

Looking Ahead: Analyst Targets and Market Sentiment

While the average analyst price target is around $443, it’s likely that these estimates will be revised upward following Sandisk’s outstanding earnings report on January 29.