Sandisk Stock Gains as Wedbush Boosts Targets Ahead of August Earnings

Principal Financial Group and several other investors increased their holdings in Sandisk Corp. during the first quarter, with Principal raising its stake to 166,374 shares worth about $105.7 million. Wedbush Research dramatically upgraded Sandisk, raising its revenue and earnings forecasts to roughly $9 billion and $37.50 per share for the fiscal fourth quarter, and lifted its price target to $1,765, indicating potential upside of more than 60%.

The analyst firm highlighted Sandisk's role as a critical AI‑memory provider, noting its NAND flash and SSD products are essential for AI data storage. Wedbush expects the upcoming August 5 earnings report to trigger further upgrades, while other analysts maintain bullish sentiment. Recent insider sales were modest, with executives selling a combined 6,225 shares worth about $10 million over the past 90 days.