SanDisk Corp (SNDK) shares are trending higher Monday morning, following a storm of stellar earnings and aggressive price forecast hikes. The stock was up 5.72% at $1,254.90, hitting a fresh 52-week high.

Analysts Raise Price Targets

Wall Street is reacting to SanDisk's massive third-quarter beat. Citigroup raised its price forecast to $1,300 on Friday. Barclays and Wedbush analysts both moved their targets to $1,200.

Massive Contractual Revenue Moat

Management revealed five long-term supply agreements during the earnings call. CFO Luis Felipe Visoso stated these deals imply "minimum contractual revenue of approximately $42 billion." These new business models cover over one-third of the expected 2027 bit volume.

Pricing Power and Data Center Growth

Wedbush analyst Matt Bryson noted SanDisk is "successful in lifting pricing at a faster rate than the broader industry." Revenue hit $5.95 billion, fueled by a 233% surge in datacenter sales.

CEO David Goeckeler called the quarter a "fundamental inflection point" for the company.

Bullish Forward Guidance

The company expects fourth-quarter earnings per share between $30 and $33. This guidance dwarfs the analyst estimate of $22.01.

Key Levels and Momentum Indicators

SanDisk is pressing into fresh 52-week-high territory, consistent with buyers staying in control of the longer-term trend. The stock is trading 29.9% above its 20-day simple moving average (SMA) and 107.7% above its 100-day SMA, a setup that leans toward strong short-term momentum on top of an already-extended intermediate trend. The relative strength index (RSI) is 73.67.

• Key Resistance: $1,189 — near the prior 52-week high area, where breakouts can get retested.
• Key Support: $947.50 — near the 20-day EMA zone where dip-buyers often show up first.

Image via Shutterstock