Analyst Consensus ?
ConsensusBuy16 ratings
Bullish1487.5%
Neutral212.5%
Bearish00.0%
Sandisk Corporation · SNDK · FY2026 Q1 · Calendar Q4 2025
SanDisk: NAND demand and BiCS8 support a strong growth outlook
The quarter supports a constructive operating thesis: strong NAND demand, pricing power, and data-center growth are improving the near-term setup. The key test is whether BiCS8, Stargate, and HBF execution can convert that demand into durable growth without margin or fulfillment setbacks.
Reported After market closeNASDAQTechnology
$254.71B market cap
90quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.22
Consensus $0.88
EPS surprise
+38.2%
Reported versus consensus
Reported revenue
$2.31B
Consensus $2.15B
Revenue surprise
+7.2%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+15.3%
Event window
SPY move
+0.1%
Same window
Abnormal move
+15.2%
Stock minus SPY
Volume
2.4×
Versus trailing sessions
Subsequent drift
-5.9%
Up to 20 sessions
SNDKSPY benchmark
Ask FN2 about SNDK FY2026 Q1
Transcript, numbers and history already loaded
Why did SNDK rise 15.3% after beating EPS estimates in FY2026 Q1?What changed in SNDK's guidance and outlook in FY2026 Q1?Give me the bull and bear case for SNDK after FY2026 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The company highlighted a stronger data-center mix, a rapid BiCS8 transition, multi-year hyperscaler allocation discussions, and a defined HBF development timeline. These details sharpen the growth roadmap while making supply allocation and execution more important.
Guidance delta
Management maintained its outlook and presented the next-quarter guidance as consistent with continued growth.
Key takeaways
- Management described NAND demand as exceeding supply through 2026 and into 2027, supporting pricing and margin expansion.
- Data-center demand is becoming the largest NAND market by exabyte volume, while BiCS8 is expected to become the primary production node by FY26.
- The next phase of the story rests on hyperscaler allocation, Stargate enterprise SSD shipments, and HBF development.
Management priorities
- Ramp BiCS8 production.
- Qualify and ship Stargate enterprise SSDs to hyperscalers.
- Advance HBF development and expand edge, gaming, and creator products.
- Maintain disciplined capex while returning cash to shareholders.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$1,706.5Current
$63Low
$1,560.64Average
$3,050High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 5, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Mizuho | Outperform | Outperform | Maintain | Aug 25, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Aug 14, 2026 |
| Wedbush | Outperform | Outperform | Maintain | Aug 14, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Aug 14, 2026 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Aug 14, 2026 |
| Argus Research | Buy | Hold | Upgrade | Aug 10, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Aug 6, 2026 |
| Citigroup | Buy | Buy | Maintain | Aug 6, 2026 |
| Susquehanna | Positive | Positive | Maintain | Jul 23, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 1, 2026 |
| Bernstein | Outperform | Outperform | Maintain | Jun 30, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jun 3, 2026 |
| Barclays | Overweight | Equal Weight | Upgrade | May 27, 2026 |
| Jefferies | Buy | Buy | Maintain | Jan 30, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Jan 30, 2026 |
| Benchmark | Buy | Buy | Maintain | Jan 15, 2026 |
Named analyst price targets
Upside is calculated against the persisted current price $1,706.5. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Mizuho Securities | Analyst unavailable | $1,875 | $1,493.12 | +9.9% | Aug 25, 2026 |
| RBC Capital | Analyst unavailable | $1,600 | $1,656.09 | -6.2% | Aug 14, 2026 |
| UBS | Analyst unavailable | $1,750 | $1,528.11 | +2.5% | Aug 14, 2026 |
| Mizuho Securities | Vijay Rakesh | $1,900 | $1,528.11 | +11.3% | Aug 14, 2026 |
| Goldman Sachs | James Schneider | $2,200 | $1,528.11 | +28.9% | Aug 13, 2026 |
| Wells Fargo | Analyst unavailable | $1,550 | $1,528.11 | -9.2% | Aug 13, 2026 |
| New Street | Analyst unavailable | $2,900 | $1,254.98 | +69.9% | Aug 10, 2026 |
| New Street | Analyst unavailable | $3,000 | $1,283.61 | +75.8% | Aug 6, 2026 |
| Jefferies | Analyst unavailable | $1,750 | $1,350.5 | +2.5% | Aug 6, 2026 |
| RBC Capital | Srini Pajjuri | $1,300 | $1,350.5 | -23.8% | Aug 6, 2026 |
| Wells Fargo | Analyst unavailable | $1,400 | $1,350.5 | -18.0% | Aug 6, 2026 |
| Evercore ISI | Analyst unavailable | $2,800 | $1,350.5 | +64.1% | Aug 6, 2026 |
| Susquehanna | Analyst unavailable | $3,050 | $1,622.81 | +78.7% | Jul 23, 2026 |
| Susquehanna | Analyst unavailable | $3,250 | $1,599.27 | +90.4% | Jul 23, 2026 |
| Wells Fargo | Analyst unavailable | $1,620 | $1,589.4 | -5.1% | Jul 22, 2026 |
| Evercore ISI | Analyst unavailable | $3,100 | $1,915.92 | +81.7% | Jul 13, 2026 |
| Bernstein | Mark Newman | $3,000 | $2,050.39 | +75.8% | Jun 29, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $2,900 | $1,611.3 | +69.9% | Jun 8, 2026 |
| Mizuho Securities | Vijay Rakesh | $2,200 | $1,559.32 | +28.9% | Jun 8, 2026 |
| Morgan Stanley | Analyst unavailable | $1,750 | $1,737 | +2.5% | Jun 3, 2026 |
| Mizuho Securities | Vijay Rakesh | $1,825 | $1,589.94 | +6.9% | May 28, 2026 |
| Barclays | Tom O'Malley | $2,300 | $1,589.55 | +34.8% | May 26, 2026 |
| Melius Research | Analyst unavailable | $2,350 | $1,307.4 | +37.7% | May 18, 2026 |
| Mizuho Securities | Analyst unavailable | $1,625 | $1,406.32 | -4.8% | May 6, 2026 |
| UBS | Analyst unavailable | $1,700 | $1,187 | -0.4% | May 4, 2026 |
| Goldman Sachs | James Schneider | $1,200 | $1,081.43 | -29.7% | May 1, 2026 |
| Mizuho Securities | Vijay Rakesh | $1,220 | $1,148.24 | -28.5% | May 1, 2026 |
| Evercore ISI | Analyst unavailable | $1,400 | $1,141 | -18.0% | May 1, 2026 |
| Raymond James | Analyst unavailable | $1,470 | $1,142.51 | -13.9% | May 1, 2026 |
| Susquehanna | Analyst unavailable | $2,000 | $1,096.51 | +17.2% | May 1, 2026 |
| Barclays | Tom O'Malley | $1,200 | $1,096.51 | -29.7% | May 1, 2026 |
| Jefferies | Analyst unavailable | $1,400 | $1,096.51 | -18.0% | May 1, 2026 |
| Wedbush | Matt Bryson | $1,200 | $1,002.35 | -29.7% | Apr 29, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $1,400 | $989.9 | -18.0% | Apr 27, 2026 |
| Morgan Stanley | Analyst unavailable | $1,100 | $989.9 | -35.5% | Apr 27, 2026 |
| Wells Fargo | Aaron Rakers | $975 | $920.99 | -42.9% | Apr 20, 2026 |
| Evercore ISI | Analyst unavailable | $1,200 | $952.5 | -29.7% | Apr 13, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $1,000 | $851.57 | -41.4% | Apr 9, 2026 |
| Bernstein | Analyst unavailable | $1,250 | $851.57 | -26.8% | Apr 9, 2026 |
| UBS | Analyst unavailable | $1,000 | $652.79 | -41.4% | Feb 2, 2026 |
| Barclays | Tom O'Malley | $750 | $576.25 | -56.1% | Feb 2, 2026 |
| Bernstein | Analyst unavailable | $1,000 | $539.3 | -41.4% | Jan 30, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $800 | $539.3 | -53.1% | Jan 30, 2026 |
| Morgan Stanley | Joseph Moore | $690 | $539.3 | -59.6% | Jan 30, 2026 |
| Jefferies | Blayne Curtis | $700 | $539.3 | -59.0% | Jan 30, 2026 |
| Mizuho Securities | Analyst unavailable | $710 | $539.3 | -58.4% | Jan 30, 2026 |
| Goldman Sachs | James Schneider | $700 | $539.3 | -59.0% | Jan 30, 2026 |
| RBC Capital | Srini Pajjuri | $650 | $539.3 | -61.9% | Jan 30, 2026 |
| Raymond James | Melissa Fairbanks | $725 | $539.3 | -57.5% | Jan 30, 2026 |
| Mizuho Securities | Analyst unavailable | $600 | $470.8 | -64.8% | Jan 27, 2026 |
| Morgan Stanley | Joseph Moore | $483 | $473.83 | -71.7% | Jan 26, 2026 |
| Benchmark Co. | Analyst unavailable | $450 | $414.5 | -73.6% | Jan 15, 2026 |
| Barclays | Tom O'Malley | $385 | $387.81 | -77.4% | Jan 15, 2026 |
| Wells Fargo | Analyst unavailable | $380 | $387.81 | -77.7% | Jan 15, 2026 |
| RBC Capital | Analyst unavailable | $400 | $387.81 | -76.6% | Jan 14, 2026 |
| UBS | Analyst unavailable | $580 | $387.58 | -66.0% | Jan 14, 2026 |
| Bernstein | Analyst unavailable | $580 | $389.81 | -66.0% | Jan 14, 2026 |
| Goldman Sachs | James Schneider | $320 | $352.75 | -81.2% | Jan 9, 2026 |
| Mizuho Securities | Analyst unavailable | $410 | $334.54 | -76.0% | Jan 9, 2026 |
| Morgan Stanley | Analyst unavailable | $273 | $200.27 | -84.0% | Nov 24, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $300 | $225 | -82.4% | Nov 7, 2025 |
| UBS | Joseph Moore | $230 | $199.33 | -86.5% | Nov 3, 2025 |
| Morgan Stanley | Joseph Moore | $230 | $199.33 | -86.5% | Nov 3, 2025 |
| Wedbush | Analyst unavailable | $220 | $204.36 | -87.1% | Oct 29, 2025 |
| Mizuho Securities | Vijay Rakesh | $215 | $169.17 | -87.4% | Oct 28, 2025 |
| Mizuho Securities | Analyst unavailable | $180 | $144.27 | -89.5% | Oct 17, 2025 |
| Wells Fargo | Analyst unavailable | $115 | $116.91 | -93.3% | Oct 13, 2025 |
| Goldman Sachs | James Schneider | $55 | $46.95 | -96.8% | Jul 10, 2025 |
| Arete Research | Nam Hyung Kim | $63 | $41.82 | -96.3% | Jun 9, 2025 |
| Susquehanna | Analyst unavailable | $70 | $47.67 | -95.9% | Apr 2, 2025 |
| Wedbush | Analyst unavailable | $80 | $52.99 | -95.3% | Mar 24, 2025 |
| Mizuho Securities | Vijay Rakesh | $60 | $51 | -96.5% | Mar 10, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $60 | $51 | -96.5% | Mar 7, 2025 |
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Start freeCompany context
Snapshot as of publicationSanDisk Corporation specializes in designing, manufacturing, and supplying storage solutions and devices leveraging advanced NAND flash technology. Its diverse product line features solid-state drives (SSDs), embedded memory solutions, removable memory cards, universal serial bus (USB) devices, and underlying wafers and components. Founded on June 1, 1988, the company maintains its principal executive offices in Milpitas, California.
Historical context
All SNDK earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| ACN Accenture plc | FY2026 Q4 · Calendar Q4 2026 | +3.5% | +15.8% | Accenture: AI demand supports strong Q4, while pricing and geopolitics remain risks |
| JBL Jabil Inc. | FY2026 Q4 · Calendar Q3 2026 | +8.1% | -10.0% | Jabil enters FY2027 with AI-led growth and capacity risks |
| MU Micron Technology, Inc. | FY2026 Q4 · Calendar Q3 2026 | +5.4% | +0.0% | Micron: Strong AI Memory Demand, Higher Capex, and HBM4E Ahead |
| SNX TD Synnex Corp | FY2026 Q3 · Calendar Q3 2026 | +20.9% | -9.9% | TD SYNNEX: AI-led growth accelerates, but mix and cash flow matter |
| ADBE Adobe Inc. | FY2026 Q3 · Calendar Q3 2026 | +0.8% | +1.4% | Adobe raises FY26 outlook as AI strategy broadens |
| ORCL Oracle Corporation | FY2027 Q1 · Calendar Q3 2026 | +10.3% | -1.7% | Oracle raises FY27 outlook as AI demand accelerates cloud growth |
Latest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the SNDK recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-05T14:20:44.757456+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-05T14:20:44.751320+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-05. For educational purposes only; not investment advice.