Why Sandisk Stock Popped Today

By Rich Smith – Apr 13, 2026 at 10:45AM ESTKey PointsCiti analyst Asiya Merchant raised her price target on Sandisk to $980 this morning.The Nasdaq-100 is adding Sandisk to its list.Sandisk (SNDK +5.86%) stock was the best-performing S&P 500 stock of 2025, and is off to another great start in 2026 -- up 275%, and again, one of the best performers on the market. Strong support from Wall Street analysts is both an acknowledgment of the stock's performance -- and also a tailwind helping to create gains for Sandisk. Case in point: Citi analyst Asiya Merchant raised her price target on the semiconductor stock this morning. As of 10:15 a.m. ET, Sandisk stock is up 5%. Image source: Getty Images. What Citi says about Sandisk Merchant argues that demand for computer memory remains solid and prices keep climbing, driving revenue and profits higher for Sandisk. Insatiable demand for artificial intelligence services keeps driving the demand. So long as this trend continues, Sandisk's growth curve looks secure. Merchant raised her price target on Sandisk stock by 12%, to $980 per share -- but that's not all. Yesterday, Nasdaq announced it's removing Atlassian (TEAM +5.63%) from its Nasdaq-100 index of America's largest tech stocks, as TheFly.com reports -- and replacing it with Sandisk. Funds that track the Nasdaq-100 will be required to sell Atlassian and buy Sandisk, creating even more buying pressure on Sandisk stock. ExpandNASDAQ: SNDKSandiskToday's Change(5.86%) $49.93Current Price$901.70Key Data PointsMarket Cap$126BDay's Range$867.09 - $917.2552wk Range$28.94 - $917.25Volume227KAvg Vol19MGross Margin34.81% How to value Sandisk stock Analyst upgrades come and go, and the buying pressure from the Nasdaq-100 switcheroo, too, will subside. Long term, Sandisk's stock price depends more on the business's performance, and we get our next glimpse of how Sandisk is doing when the company reports fiscal Q3 2026 earnings on April 30. Forecasts are for Sandisk to flip from a $0.30 per share loss (in Q3 2025) to $14.23 per share in profit. It's a high bar to pass. If Sandisk fails to clear it -- look out below. Read NextApr 11, 2026 •By Harsh ChauhanPrediction: The Best-Performing Artificial Intelligence (AI) Stock of Q2 2026 Isn't Nvidia. It's This One.Apr 9, 2026 •By Rich SmithWhy Sandisk Stock Popped TodayApr 8, 2026 •By Geoffrey SeilerThese Growth Stocks Surged 300% and 1,400% While Everyone Was Watching Nvidia, and They Are Still Cheap. Here's Why.Apr 7, 2026 •By Harsh ChauhanGoogle's Tech Breakthrough Has Created a Stunning Buying Opportunity for Investors. 1 Glorious Stock With Multibagger Potential to Buy Right Away.Apr 6, 2026 •By Eric VolkmanWhy Sandisk Stock Topped the Market TodayApr 6, 2026 •By Trevor JennewineBillionaire Stanley Druckenmiller Sells Sandisk Stock and Buys an AI Stock Wall Street Says Is Deeply UndervaluedAbout the AuthorRich Smith is a contributing Motley Fool defense and stock market analyst covering publicly traded and emerging companies in defense, space, aerospace, and other sectors. Prior to The Motley Fool, Rich practiced international corporate law for Clifford Chance in Russia, and for the Russian-Ukrainian Legal Group in Moscow, Kyiv, and Washington, D.C. He holds a bachelor’s degree in international relations from the College of William & Mary, a law degree from the University of Baltimore, and a language certification from the International Institute of Russian Language & Culture in Tver, Russian Federation. The Globe and Mail once featured him as “one of the best stock pickers since 2009.”TMFDittyX@RichSmithFoolStocks MentionedSandiskNASDAQ: SNDK$901.77(+5.87%)+$50.00NasdaqNASDAQ: NDAQ$84.97(+2.18%)+$1.81AtlassianNASDAQ: TEAM$60.48(+5.83%)+$3.33*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.