Sandisk Share Price

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Sandisk Share Price

Can SanDisk Share Price Double In 12 Months?

SanDisk's share price gained more than 1200% over the last 12 months. Still, SanDisk has a market cap of only $250 billion. So, it is still not among the ranks of the top tech companies in terms of market cap.

One noticeable thing was that the SanDisk stock has since retreated from its highs. So, does this mean you should consider buying SanDisk stock at a discount? Let's look at where the SanDisk share price could be in the next 12 months.

Analysts Are Bullish On SanDisk

The bottom line is that analysts still think more upside is ahead for the SanDisk stock. 24 out of 28 analysts have rated the SanDisk stock as a buy. The rest have rated it as a hold. So, the overall consensus is bullish about SanDisk.

The average price target for the SanDisk stock is $2136. This means the analysts expect the stock price to gain an upside of more than 20% from the current levels.

So, it does appear that the SanDisk stock price is expected to close higher in the next 12 months. However, no one is forecasting the SanDisk share price to double in the next 12 months.

Any upside surprise in the future earnings report could mean the analysts might upgrade their share price target. But still, the chances of another 100% gain or more are very slim.

The P/E ratio of SanDisk is 23. This is close to the average P/E of the S&P 500. However, we must consider the fact that the growth prospects of SanDisk are much higher. So, the stock price is still low when we consider the anticipated growth.

The one risk to consider is that demand for memory might slow down in the near future. Another possibility is that the supply outpaces the demand.

So, if you want to avoid this risk, you may consider staying away from the SanDisk stock. But overall, SanDisk stock is a very good option if you want to capitalize on the growth of the memory market.

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