One Reason to Be Bullish on SanDisk Stock

SanDisk (NASDAQ:SNDK) has a 24/7 Wall St. price target of $2,117.43 over the next 12 months, implying 41.81% upside from its current price of $1,493.12, driven by multi-year contracts that lock in revenue visibility. The company reported fiscal Q4 2026 non-GAAP EPS of $39.25 versus $33.28 consensus on revenue of $8.96 billion, up 371.59% year over year, and guided Q1 FY2027 revenue to $10.30-$10.80 billion with non-GAAP EPS of $44-$46. Management's New Business Model deals cover eight datacenter and edge customers with a weighted-average duration of over four years and minimum expected revenue of $93.9 billion, supporting a bull-case target of $2,487.13.

Our SanDisk NASDAQ:SNDK https://247wallst.com/companies/SNDK/ | SNDK Price Prediction https://247wallst.com/companies/sndk/price-prediction price prediction has one message: the AI storage story that turned this stock into a 3,120% one-year gainer still has room to run. The 24/7 Wall St. price target is $2,117.43 over the next 12 months, implying 41.81% upside from $1,493.12. Our recommendation is buy with 90% confidence. The reason to be bullish: multi-year contracts https://247wallst.com/investing/2026/08/18/the-93-billion-reason-sandisk-is-a-must-own-ai-stock/ have turned a cyclical NAND supplier into a company with locked-in revenue visibility. 24/7 Wall St. Price Target Summary | Metric | Value | |---|---| | Current Price | $1,493.12 | | 24/7 Wall St. Price Target | $2,117.43 | | Upside | 41.81% | | Recommendation | BUY | | Confidence Level | 90% | A Post-Earnings Reset With the Growth Story Intact SanDisk gave back 16.44% over the past week and 6.45% on the most recent trading day, cooling from a Reddit post flagging “rapidly increasing volatility among memory stocks https://247wallst.com/investing/2026/07/07/micron-sandisk-and-western-digital-sink-7-as-samsung-earnings-spark-a-memory-selloff/ ” as a possible bubble signal. Year to date, shares are up 529%. Fiscal Q4 2026 https://investor.sandisk.com/news-releases/news-release-details/sandisk-reports-fiscal-fourth-quarter-2026-financial-results , reported August 5, delivered non-GAAP EPS of $39.25 against $33.28 consensus the fifth straight beat on revenue of $8.96 billion up 371.59% year over year . GAAP gross margin hit 84.6%. Q1 FY2027 guidance calls for revenue of $10.30 billion to $10.80 billion and non-GAAP EPS of $44 to $46. Why Bulls See a Breakout to $2,487 The bull case rests on signed contracts https://247wallst.com/investing/2026/08/13/sandisk-has-already-exploded-can-the-stock-double-again/ . Management said New Business Model deals now cover eight datacenter and edge customers with a weighted-average duration of over four years and minimum expected revenue of $93.9 billion https://247wallst.com/investing/2026/08/18/the-93-billion-reason-sandisk-is-a-must-own-ai-stock/ . NBMs will cover more than 50% of FY2027 bits and roughly two-thirds of FY2028 bits. Datacenter revenue grew 437% in FY2026. Management projects the NAND market approaches $500 billion in calendar 2027. Analysts have chased shares to a $2,126.17 consensus target, and our bull-case scenario points to $2,487.13, roughly 66.57% above current levels. The $14 billion additional buyback authorization adds fuel. What Could Go Wrong NAND remains cyclical. The non-NBM portion floats with market pricing, and Q4 revenue growth was two-thirds pricing driven, meaning spot NAND softening compresses margins fast. Consumer revenue fell to $556 million, down 32% quarter over quarter, and Reddit sentiment turned bearish at a weekly score of 23.5. Kioxia dependency and customer concentration also matter. Bulls counter that lower sequential margins reflect deliberate product mix and prudent guidance while fundamentals remain intact, and NBMs smooth exactly this volatility. Our bear-case scenario lands at $1,494.82, essentially flat. How SanDisk Compares to Micron and Western Digital Micron NASDAQ:MU https://247wallst.com/companies/MU/ is the direct memory competitor. Its fiscal Q3 2026 revenue was $41.46 billion at 84.6% GAAP gross margin, matching SanDisk’s profile but on far larger scale $1.03 trillion market cap . Micron’s Strategic Customer Agreements validate the multi-year-contract playbook, making our SanDisk target well-grounded. Western Digital NASDAQ:WDC https://247wallst.com/companies/WDC/ is SanDisk’s former parent and the HDD counterpart to the same AI storage buildout. WDC posted Q4 FY26 revenue of $3.75 billion up 43.84% at 54.4% non-GAAP gross margin. SanDisk’s 84.6% gross margin and 371.59% revenue growth exceed WDC, justifying our target premium. What Tips the Scale for Bulls The 24/7 Wall St. price target of $2,117.43 is a buy at 90% confidence. The $93.9 billion NBM revenue floor tips the scale. Investors will want to watch whether the next earnings report shows NBM bit coverage crossing 50% as guided, and whether spot NAND pricing holds before FY2027 contracts fully ramp. | Year | 24/7 Wall St. Price Target | |---|---| | 2026 | $2,117 | | 2027 | $2,653 | | 2028 | $3,225 | | 2029 | $3,568 | | 2030 | $3,945 | These projections assume SanDisk executes on its NBM strategy and BiCS8/BiCS10 roadmap. A cyclical NAND correction or Kioxia disruption could push results toward our bear path near $1,708 by 2031. Contact email protected for any questions or corrections.