Sandisk (SNDK +2.76%) stock has rocketed 2,800% higher over the past year as demand for the company’s memory processors has spiked, with tech companies snatching up swaths of memory for artificial intelligence data centers.

Analysts differ greatly on their price targets for the stock, with some setting it as low as $1,300 and others as high as $3,000 — with the average about $2,220. But they overwhelmingly agree on one thing: Sandisk stock is a buy.

Here’s why analysts disagree on Sandisk’s price target, yet still believe this memory stock is a smart long-term bet.

Image source: The Motley Fool.

Why do analysts have such a wide range of price targets?

One of the main reasons analysts differ on their Sandisk price targets is that it’s…