Nintendo (NTDOF) isn’t the only company that has benefited from the release of the Switch 2. The video game company’s latest handheld/home console hybrid also boosted sales at retail stores in the U.S., including GameStop (GME) and Best Buy (BBY).
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According to The Wall Street Journal, GameStop sales in June jumped 73% year over year, largely thanks to the launch of the Switch 2 last month. Best Buy also saw a sales boost in June, though not as large as the one GameStop achieved. Its sales that month were up 9.2% compared to June 2024. This has both of these retailers on track to surpass Wall Street’s earnings estimates.
It makes sense that retailers would see a surprise sales boost when the Switch 2 launched. The console broke records by selling roughly 3.5 million units after four days on the market. On top of that, sales of the Nintendo console reportedly hit 5 million units during the prior month. Nintendo anticipates 15 million unit sales by March 2026, but could surpass that if it can increase production to meet demand.
Nintendo Stock Movement Today
Nintendo stock was up 0.3% as of Friday morning, extending a 43.24% year-to-date rally. The stock has also risen 61.75% over the past 12 months. Much of those gains can be tied to the pre-release and post-launch hype surrounding the Switch 2. With demand still high and plenty of games coming out, NTDOF stock could still have more room to run.
Is Nintendo Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Nintendo is Moderate Buy, based on eight Buy, two Hold, and a single Sell rating over the past three months. With that comes an average NTDOF stock price target of $94.59, representing a potential 6% upside for the shares.
