SanDisk (SNDK) is scheduled to report its fiscal fourth-quarter earnings today, August 5. With the stock trading at around $1,427.62, the options market is pricing in a move of about 15.39% in either direction following the results. That suggests traders are bracing for another volatile earnings reaction.
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For context, SanDisk develops NAND flash memory and storage solutions used in enterprise SSDs, AI data centers, smartphones, and personal computers.
The Implied Move Breakdown
Notably, an options-implied move measures the expected size of the stock’s move after earnings, not whether it will rise or fall.
How This Compares with Past Earnings Moves
Options-implied moves reflect what traders expect to happen after earnings, while historical price reactions provide a useful benchmark. Over the past four quarters, SanDisk has averaged an 8.75% one-day move after earnings.
That is well below the current implied move of 15.39%, suggesting options traders are pricing in a much larger reaction this quarter.
What Could Drive the Stock Post-Earnings?
Investors will closely watch whether SanDisk can maintain the strong momentum in its data center business. Wall Street expects the company to report Q4 revenue of about $8.44 billion, up more than 340% year over year, while earnings per share (EPS) are projected to jump to $34.80 from $0.29 a year earlier.
Demand for enterprise SSDs and higher NAND flash memory prices will remain in focus. Investors will also look for management’s outlook for fiscal 2027 and any comments ahead of the company’s August 13 Investor Day.
Wall Street also remains optimistic on the stock. Recently, BofA Securities analyst Wamsi Mohan raised his price target on SanDisk to $2,500 from $2,100 while maintaining a Buy rating. Mohan expects tight NAND supply and strong demand to continue supporting pricing through 2027, although he believes price growth could moderate over time.
Scenario Map
Bull Case: SanDisk beats revenue and earnings estimates while issuing a strong fiscal 2027 outlook, supported by healthy AI storage demand and firm NAND pricing. That could push the stock toward, or even above, the $1,647.34 implied upper range.
Bear Case: The company delivers weaker guidance or signals softer NAND pricing or margin pressure. That could send the stock toward the $1,207.90 implied lower range.
What Is the Price Target for SanDisk?
Wall Street analysts maintain a Strong Buy rating on SNDK stock, with 10 Buys and two Holds assigned over the past three months. The average SNDK stock price target of $2,397.27 indicates 67.92% upside potential.
