One of the hottest stocks of 2025 and 2026 looks to continue its momentum when SanDisk Corporation (NASDAQ:SNDK) reports second-quarter financial results after market close Thursday.

Here are the earnings estimates, analysts’ ratings, and key items for investors to watch.

SanDisk Q2 Earnings Estimates

Analysts expect SanDisk to report second-quarter revenue of $2.68 billion, up from $2.31 billion in the first quarter, according to data from Benzinga Pro.

Analysts expect SanDisk to report second-quarter earnings per share of $3.28.

Company guidance calls for second-quarter revenue to be in a range of $2.55 billion to $2.65 billion and earnings per share to be in a range of $3.00 to $3.40.

SanDisk Analysts Raise Price Targets Ahead of Q2 Earnings

Several SanDisk analysts have raised their price targets amidst the stock's rally. Here are recent analyst ratings and their price targets:

• Citigroup: Maintained Buy rating, raised price target from $280 to 490
• Wells Fargo: Maintained Equal-Weight rating, raised price target from $230 to $380
• Benchmark: Maintained Buy rating, raised price target from $260 to $450
• RBC Capital: Initiated with Sector Perform rating and price target of $400

Key Items to Watch in SanDisk's Q2 Earnings Results

SanDisk’s earnings report remains among the most anticipated given the company’s recent stock rally.

The company was the top-performing S&P 500 stock in 2025, gaining 560.2%. The stock is also a top gainer in 2026, up 91% year-to-date. Since February 2025, when the company was spun out of Western Digital, shares are up over 1,346%.

The company has benefited from a rally in memory stocks amid reports of shortages and rising demand, which could drive prices and margins higher.

Nvidia CEO Jensen Huang highlighted that storage was a "completely unserved market today," during his speech at CES 2026 earlier this month.

Analysts and investors will likely be focused on the company's financial results with guidance playing a more important role in if the stock rally can continue. Signs of higher prices, increased demand and higher revenue and margins will all be items to watch.

As one of the hottest stocks, SanDisk could see volatility ahead of earnings, with expectations high and any sign of weakness or less favorable guidance than expected leading to a potential selloff.

SanDisk Stock Price Action

SanDisk shares traded at $527.72 on Wednesday, hitting a new 52-week high of $529.98 during intraday trading.

© Jason Hidalgo/RGJ via Imagn Content Services, LLC