Boston, MA 08/20/2014 (wallstreetpr) –The $21 billion market capped data storage solution company, SanDisk Corporation (NASDAQ:SNDK), cannot rest until it is sure that the increasing demand for storage solution is met. That is why the company has a new product in the form of Ultra II SSD, which takes over from Ultra SSD that has been the devices that most PC and notebook users have been dying to lay their hands.
Big storage, great price
The new device still appears to the same crowd and is available in the capacities that include 120GB, 240GB, 480GB and 960GB. Perhaps of noteworthy at this juncture is that the device is competitively priced in that it is asked for $0.50 per GB. At that price, SanDisk Corporation (NASDAQ:SNDK)’s new storage technology is extremely competitive, and that means that the company can be almost sure of giving competitors a run for their money given that it already enjoys a popular brand in the data storage market.
SanDisk designs, develops and makes data storage devices, and it has a wide range of products in the realm. The popularity and extensive use of smartphones is one area that is promoting the company to innovate more on the data storage front so as to meet the big demand for the storage of music and video in the small smartphone devices.
Positive recommendation
On Wall Street, analysts cannot hold back their love for SanDisk Corporation (NASDAQ:SNDK), at least going by the fact that the stock carries a consensus “buy” rating and average target price of $105.03. That signals a significant upside potential because the stock currently trades in the region of $95.30. Some of the bullish firms on the stock of SanDisk include Wedbush that has an “outperform” rating with price target of $105 and Susquehanna that has a target price of $120 on the stock.
SanDisk Corporation (NASDAQ:SNDK)’s financial performance is also something to be proud of. The company earned $1.41 a share in the most recent quarter, smashing the consensus estimate of $1.39. Revenue came in at $1.63 billion, better than $1.60 billion that analysts expected for the quarter.
The stock is up more than 35% this year.
