Sandisk (SNDK) stock has doubled in a month and is up 1000% in six months due to high demand and shortage of memory products. Industry leaders are cautious about increasing production capacity despite continued demand, ensuring stable margins. SNDK stock is up 100% year-to-date, outperforming benchmarks and causing shorts to lose over $3 billion.

Sandisk, based in Milpitas, California, produces NAND flash technology data storage devices globally. SNDK stock is trading at a forward P/E ratio of 43.4, a premium compared to peers like Micron and Western Digital. Analysts foresee significant earnings growth in the short term, but negative growth in 2028-2029 poses long-term risks.

Sandisk’s first-quarter 2026 earnings saw $2.31 billion in revenue, up 21% sequentially, with a diluted EPS of $1.22. The company expects Q2 revenue between $2.55 billion to $2.65 billion. Analysts focus on memory demand trends to determine Sandisk’s future.

Twenty-one Wall Street analysts cover SNDK stock, with a consensus “Moderate Buy” rating. The mean target price is $359.06, below the current share price, but the highest target price at $580 indicates a 22% potential upside. Bernstein recently assigned the $580 price target, with more analysts expected to update targets due to rapid changes in the memory market.

Read more at Yahoo Finance: Sandisk Stock Is Up 1,000% in 6 Months. Analysts Think It Can Gain Another 20% from Here.