Sandisk stock gains on a $2,400 Rosenblatt target

Sandisk stock (ISIN US80004C2008) closed at USD 1,766.64 on Nasdaq on September 21, 2026, down 1.41 percent, while Rosenblatt initiated coverage with a Buy rating and a USD 2,400 price target on September 22, 2026. The target implies 36 percent upside from the previous close, according to CNBC.

Rosenblatt sets a high bar

Rosenblatt's September 22, 2026 initiation puts the company among the most optimistic artificial-intelligence memory stories. Investing.com reported the same Buy rating and USD 2,400 target, while also citing RBC at USD 1,600, Mizuho at USD 1,900 and Goldman Sachs at USD 2,200. The spread between those targets shows how much valuation depends on sustained demand for high-bandwidth memory and data-center storage.

Revenue reaches USD 8.97 billion

Sandisk reported fiscal fourth-quarter revenue of USD 8.97 billion, above the USD 8.39 billion expectation cited by TheStreet on September 21, 2026. The USD 580 million gap equals 6.9 percent of the expected revenue, giving the latest quarterly result a concrete operational edge rather than relying only on the share-price narrative.

Data-center revenue more than quadrupled from the preceding quarter to USD 2.98 billion in fiscal fourth quarter 2026. Sandisk also disclosed eight long-term agreements with a combined value of at least USD 93.9 billion, while its fiscal first-quarter 2027 revenue outlook was USD 10.3 billion to USD 10.8 billion and non-GAAP diluted earnings guidance was USD 44 to USD 46 per share, according to TheStreet.

Stock remains below its yearly peak

The September 21, 2026 close of USD 1,766.64 sat inside a 52-week range of USD 93.53 to USD 2,354.39, with a market capitalization of USD 259 billion and reported volume of 146,300 shares in the quoted snapshot. That range places the close USD 587.75, or 25.0 percent, below the 52-week high, so the new target requires another valuation step beyond an already powerful run.

Sandisk's near-term case therefore combines two separate measurements: fiscal fourth-quarter revenue exceeded expectations by USD 580 million, while the analyst target of USD 2,400 stands USD 633.36 above the September 21 close. The counter-factor is valuation sensitivity; the same analyst roundup cited targets from USD 1,600 to USD 2,400, a USD 800 spread that leaves execution and memory pricing central to the debate.

USD 1,766.64 marks the latest close

Sandisk closed at USD 1,766.64 on Nasdaq on September 21, 2026, with a daily decline of 1.41 percent. The quoted 52-week high was USD 2,354.39 and the low was USD 93.53, providing the market context for the USD 2,400 Rosenblatt target dated September 22, 2026.

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