Sandisk Shares Fall 4.61% to $1,158.81 Ahead of Aug. 5 Earnings
Updated
Updated · Benzinga · Aug 3
Sandisk Shares Fall 4.61% to $1,158.81 Ahead of Aug. 5 Earnings
3 articles · Updated · Benzinga · Aug 3
Summary
Sandisk dropped 4.61% to $1,158.81 in Monday premarket trading as investors grew cautious before its Aug. 5 quarterly report.
Wall Street expects earnings of $33.38 a share on $8.24 billion in revenue, versus 29 cents a share and $1.90 billion a year earlier.
The stock’s recent pullback has been steep: it sits 23.1% below its 20-day moving average and 32.1% below its 50-day average, while still 37.7% above its 200-day average.
That mixed setup leaves near-term pressure in place even as analysts keep a consensus Buy rating, with an average price target of $2,031.69 and Sandisk trading at about 41.5 times earnings.