Nintendo (NTDOF) stock was up on Tuesday as investors and consumers patiently await more news about the next Nintendo Direct. The video game company reportedly plans to release a Direct this month, providing gamers with more details about upcoming Switch 2 games.
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According to the latest rumors, Nintendo will hold off on the release of the Direct until after the launch of Donkey Kong Bananza, which will come out on Thursday. This allows Nintendo to focus on the release of that game without stealing its thunder by promoting others.
These same rumors also claim that several third-party developers are holding off on Switch 2 announcements. It seems they are doing so at Nintendo’s request, saving their reveals for the Direct. This will also help Nintendo keep the spotlight on Donkey Kong Bananza leading up to its launch later this week. As for which third-party developers have announcements, those details are still unknown.
Nintendo Stock Movement Today
Nintendo stock was up 1.72% as of Tuesday afternoon, building on a 48.33% year-to-date rally. The stock has also increased 53.88% over the past 12 months. Much of the gains can be attributed to the Switch 2. The stock rallied in the months ahead of its release, and has continued to do so after it broke sales records in the first month of its launch.
Nintendo appears to be on a winning streak right now, with high demand for the Switch 2 still in play. That, combined with a healthy stream of first-party games and support from third-party developers, will likely play into the continued success of the game company.
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 $95.41, representing a potential 10.47% upside for the shares.
