{"id":5756,"date":"2026-09-22T15:15:47","date_gmt":"2026-09-22T15:15:47","guid":{"rendered":"https:\/\/tradertideinsights.com\/?p=5756"},"modified":"2026-09-22T15:15:47","modified_gmt":"2026-09-22T15:15:47","slug":"sandisk-stock-could-climb-35-more-rosenblatt-says-with-a-2400-target-heres-why","status":"publish","type":"post","link":"https:\/\/tradertideinsights.com\/?p=5756","title":{"rendered":"SanDisk stock could climb 35% more, Rosenblatt says with a $2,400 target: here’s why"},"content":{"rendered":"
<\/div>\n

SanDisk (NASDAQ:SNDK) received a fresh bullish call from Rosenblatt, which initiated coverage of the memory-chip maker with a Buy rating and a $2,400 price target.<\/p>\n

The stock gained 4% after the market opened on Tuesday. <\/p>\n

The target represents an upside of over 35% from SanDisk\u2019s recent trading levels of $1,766.64, and comes after the stock has already gained more than 540% in 2026 and more than 1,600% over the past year.<\/p>\n

Rosenblatt\u2019s central argument is that artificial intelligence could fundamentally change the role of NAND flash memory. <\/p>\n

Rather than remaining primarily a commodity storage product, NAND could become a more strategically important component of AI computing infrastructure as models grow larger and inference workloads become increasingly data intensive.<\/p>\n

“Historically, consumer, PC, and smartphone NAND demand was driven primarily by rising density and falling cost per bit. In AI systems, however, expanding model sizes and data-intensive inference increasingly prioritise density, performance, endurance, and supply certainty over the lowest absolute price,” Rosenblatt’s Kevin Cassidy said.<\/p>\n

“We believe positioning NAND closer to compute engines can increase its value to the overall system. SanDisk’s technology roadmap supports this opportunity,” the analyst’s note said.<\/p>\n

SanDisk tech roadmap strengthens AI case<\/h2>\n

Rosenblatt highlighted SanDisk\u2019s BiCS8 and BiCS10 platforms, which improve areal density and lateral scaling while enabling comparable die capacity with fewer 3D layers than certain competing approaches.<\/p>\n

The company has also developed NAND process technology for roughly 25 years alongside technology and manufacturing partner Kioxia, giving it a long-established position in the memory industry.<\/p>\n

SanDisk has increasingly positioned itself around AI-related memory applications, including its High Bandwidth Flash technology, which the company has described as an opportunity tied to the growth of AI inference.<\/p>\n

Crucially, NAND flash memory prices are expected to climb even more sharply in the near term, with Susquehanna analyst Mehdi Hosseini forecasting<\/a> a 60% sequential increase this quarter and a further 25% rise in the following quarter.<\/p>\n

Earnings validate investment case<\/h2>\n

SanDisk’s recent earnings<\/a> cemented its place in the AI trade. <\/p>\n

Datacenter revenue rose from $325 million in fiscal 2024 to $960 million in fiscal 2025 and $5.2 billion in fiscal 2026, representing 437% growth in the latest fiscal year.<\/p>\n

Total fiscal 2026 revenue reached $20.3 billion, up 175% year over year.<\/p>\n

For the fiscal fourth quarter ended July 3, revenue reached $9 billion, up 372% from a year earlier and 51% sequentially.<\/p>\n

Diluted GAAP earnings per share came in at $43.97, compared with a loss of $0.16 in the year-earlier quarter and up 91% from the previous quarter.<\/p>\n

Long-term margin targets underpin $2,400 case<\/h2>\n

Rosenblatt\u2019s valuation also rests on SanDisk\u2019s ambitious long-term financial framework.<\/p>\n

Management expects mid-to-high-teens revenue growth between fiscal 2028 and fiscal 2030, alongside approximately 80% non-GAAP gross margins, 75% non-GAAP operating margins and a 50% adjusted free-cash-flow margin.<\/p>\n

SanDisk\u2019s fiscal 2026 gross margin was 71.5%, showing how far profitability has already moved from the previous year\u2019s 30.1%.<\/p>\n

Management\u2019s confidence is partly linked to New Business Model agreements signed with eight major NAND customers. <\/p>\n

The agreements represent approximately two-thirds of bits in fiscal 2028, according to SanDisk.<\/p>\n

Rosenblatt conservatively estimates fiscal 2030 non-GAAP EPS at approximately $300 per share based on the company\u2019s framework.<\/p>\n

Other analysts have also assigned elevated targets. <\/p>\n

Goldman Sachs has a $2,200 target and Buy rating, while Mizuho has maintained an Outperform rating and a $1,900 target. <\/p>\n

RBC Capital recently raised its target to $1,600 while retaining a Sector Perform rating.<\/p>\n

S&P 100 inclusion adds another near-term catalyst<\/h2>\n

SanDisk\u2019s momentum also received a boost from its addition to the S&P 100<\/a>, effective September 21. <\/p>\n

S&P Dow Jones Indices confirmed SanDisk as one of the additions during the latest quarterly index rebalance.<\/p>\n

The inclusion could generate incremental demand as funds and exchange-traded products that track the index adjust their holdings. <\/p>\n

It may also increase SanDisk\u2019s visibility among institutional investors.<\/p>\n

However, index membership is likely to be a secondary factor over a longer period. <\/p>\n

The company\u2019s ability to sustain datacenter growth, pricing, margins and cash generation will remain more important to the stock\u2019s fundamental valuation.<\/p>\n

CEO stock sales add a note of caution<\/h2>\n

The bullish analyst outlook comes against the backdrop of substantial insider selling.<\/p>\n

SanDisk Chairman and CEO David Goeckeler sold 33,841 shares for approximately $53.3 million on September 17, according to an SEC Form 4 filing.<\/p>\n

The shares were sold at prices ranging from $1,567 to $1,587, and the transactions were conducted under a Rule 10b5-1 trading plan adopted on May 29. Goeckeler beneficially owns 382,865 shares following the transactions.<\/p>\n

He also sold about $51.7 million of shares on September 14 under the same plan.<\/p>\n

The sales may look negative at first glance, particularly after SanDisk\u2019s extraordinary share-price appreciation. <\/p>\n

But the pre-arranged nature of the transactions makes them less straightforward to interpret as a judgment by management about the company\u2019s future prospects.<\/p>\n

With the stock up more than 1,600% over the past year, the transactions could also represent profit-taking following a dramatic increase in the value of Goeckeler\u2019s holdings.<\/p>\n

For investors, the more consequential question is whether SanDisk can turn the current AI-driven NAND boom into the durable growth and margins embedded in management\u2019s fiscal 2028-2030 framework \u2014 and ultimately justify increasingly ambitious Wall Street targets such as Rosenblatt\u2019s $2,400 valuation.<\/p>\n<\/p>\n

The post SanDisk stock could climb 35% more, Rosenblatt says with a $2,400 target: here's why<\/a> appeared first on Invezz<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

SanDisk (NASDAQ:SNDK) received a fresh bullish call from Rosenblatt, which initiated coverage of the memory-chip maker with a Buy rating and a $2,400 price target.The stock gained 4% after the market opened on Tuesday. The target represents an upside of over 35% from SanDisk\u2019s recent trading levels of $1,766.64, and comes after the stock has…<\/p>\n","protected":false},"author":1,"featured_media":5757,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-5756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock"],"_links":{"self":[{"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/posts\/5756","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5756"}],"version-history":[{"count":0,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/posts\/5756\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=\/wp\/v2\/media\/5757"}],"wp:attachment":[{"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradertideinsights.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}