Susquehanna Initiates Coverage on SanDisk (SNDK)
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group (NYSE: JEF) upgraded shares of SanDisk from a “hold” rating to a “buy” rating in a research note to investors on Friday, April 27th. They now have a $47.00 price target on the stock, up previously from $45.00. Separately, analysts at Sterne Agee cut their price target on shares of SanDisk from $55.00 to $50.00 in a research note to investors on Friday, April 20th. They now have a “buy” rating on the stock. Finally, analysts at Oppenheimer (NYSE: OPY) cut their price target on shares of SanDisk from $65.00 to $53.00 in a research note to investors on Friday, April 20th. They now have an “outperform” rating on the stock.
Shares of SanDisk traded down 2.23% during mid-day trading on Thursday, hitting $31.63. SanDisk has a 52 week low of $32.24 and a 52 week high of $53.46. The company has a market cap of $7.705 billion and a P/E ratio of 9.05.
SanDisk last announced its earnings results on Thursday, April 19th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by $0.08. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, analysts predict that SanDisk will post $0.43 earnings per share next quarter.
SanDisk Corporation designs, develops and manufactures data storage solutions in a range of form factors using its flash memory, controller and firmware technologies.