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Still clearly basking in the glow of an estimates-crushing earnings report issued last week, Sandisk (SNDK +11.89%) blew past many other stocks on the exchange Monday. Several analysts tracking the fortunes of the device memory specialist raised their price targets on its stock, sending it to a nearly 12% gain in the trading session. A day full of hikes Bernstein SocGen Group's Mark Newman got the party started well before market open, increasing his Sandisk fair value assessment by a strong 150%. Newman now feels that stock is worth $300 per share, up very much from his previous level of $120. Almost needless to mention, the analyst maintained his outperform (read: buy) recommendation on the shares. Not surprisingly, his move was based on Sandisk's boffo first quarter of 2026 results. Citing these and the good environment for aggressive pricing, Newman increased his estimates for full-year 2026 and 2027 profitability, hence the massive lift in price target. Later that morning Barclays' Tom O'Malley enacted an even heftier lift, raising his level to $220 per share for Sandisk, way up from the former $39 (although he kept his equal weight, or hold, recommendation intact). The more bullish Joseph Moore of Morgan Stanley now feels the stock's proper level is $263 per share; previously he assessed it as being worth $230. He maintained his overweight rating. Convincing quarterly beats This felt entirely reasonable, as in nearly every aspect, Sandisk's first quarter of fiscal 2026 was a blowout. Revenue rose by 23% to $2.3 billion, easily beating the consensus analyst estimate. And although net income not according to generally accepted accounting principles (GAAP) slumped by 31% to $181 million, at $1.22 per share, it crushed the $0.89 average pundit expectation.
