5 Most Profitable Cheap Stocks to Buy Right Now

3. SanDisk Corporation (NASDAQ:SNDK)

Forward P/E: 11.93

Profit Margin: 34.19%

Net Income Available to Common (TTM): $4.51 Billion

Number of Hedge Fund Holders: 114

SanDisk Corporation (NASDAQ:SNDK) is one of the most profitable cheap stocks to buy right now. On July 1, BofA lifted its price target on Sandisk Corporation (NASDAQ:SNDK) from $2,100 to $2,500 and maintained its Buy rating on the stock.

The research firm expects the supply and demand imbalance in the NAND market to continue through 2027. As a result, pricing will stay “strong for longer” through mid-2027, although the pace of price increases is expected to slow over time on a quarter-over-quarter percentage rate basis.

A day earlier, on June 30, Bernstein analyst Mark Newman also increased the firm’s price target on Sandisk Corporation (NASDAQ:SNDK) to $3,000 from $1,700 and maintained an Outperform rating on the stock.

According to Bernstein, the new memory long-term agreements (LTAs) are more favorable for suppliers than older contracts. The new agreements include fixed or range-bound prices, longer terms, and upfront financial commitments to lock-in customers and protect against downside risk.

Sandisk Corporation (NASDAQ:SNDK) is an American computer technology company that designs and manufactures flash solutions and advanced memory technologies, including SSDs, memory cards, and USB Flash Drives.