Video game company Nintendo (NTDOY) (NTDOF) released its latest Direct today, providing gamers and investors with information about upcoming titles and services. However, it looks like shareholders weren’t impressed by today’s news, with NTDOY stock down 2.04% as of this writing. That’s despite Nintendo being on a hype train this year, up 24.34% year-to-date, in the lead-up to the Switch 2.
How Did Nintendo Fail to Impress Investors?
Today’s Nintendo Direct didn’t include any details about the Switch 2, which will be released sometime this year. That’s to be expected, as Nintendo said it wouldn’t talk about the upcoming console until its special presentation on April 2. Even so, some shareholders may have been holding out hope for a surprise announcement, something Nintendo has done in the past.
The content of the Direct may have also disappointed traders. Metroid Prime 4 and Pokemon Legends Z-A, two of the last big games coming to the Nintendo Switch, were shown off during the Direct. However, the company refused to provide release dates for them, despite the Nintendo Switch 2 coming out soon. Instead, the company stuck with a vague 2025 release period for both games. It’s possible that Nintendo doesn’t want to risk spoiling the Switch 2’s release date, but its vagueness didn’t sit well with U.S. or Japanse (JP:7974) traders today.
Is Nintendo Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus coverage for Nintendo is Moderate Buy based on six Buy, two Hold, and one Sell ratings over the last three months. With that comes an average price target of $79.73, a high of $102.83, and a low of $51.28. This represents a potential 6.96% upside for Nintendo stock.
