Sandisk (SNDK) Soars as Berstein Hikes PT by 72%

We recently published 10 Big Names Already Crushing This February. Sandisk Corporation (NASDAQ:SNDK) was one of the top performers on Monday.

Sandisk extended its winning streak to a fifth straight day on Monday, adding 15.44 percent to close at $665.24 apiece, as investors took heart from an investment firm’s 72 percent price target upgrade for its stock.

In an updated report, Bernstein raised its price target for Sandisk Corporation (NASDAQ:SNDK) to $1,000 from $580 previously, reflecting a 50 percent upside potential from its latest closing price. It also reaffirmed an “outperform” rating for its stock.

The coverage followed the company’s 672 percent net income expansion in the second quarter of fiscal year 2026, at $803 million from only $104 million in the same period last year, while operating income climbed by 446 percent to $1.065 billion from $195 million.

Revenues, on the other hand, rose by 61 percent to $3.025 billion from $1.876 billion, with the bulk owed to the Edge segment at $1.678 billion, followed by consumer at $907 million, and data center at $440 million.

Data center revenues alone were driven by the strong adoption among AI infrastructure developers, semi-custom customers, and technology companies deploying AI at scale.

For the third quarter of the year, revenues are targeted at a range of $4.4 billion to $4.8 billion, or an implied expansion of 159 percent to 183 percent from the $1.695 billion reported in the same period a year earlier. Gross margins are expected to be at 64.9 percent to 66.9 percent.

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Disclosure: None. This article is originally published at Insider Monkey.