Why Nintendo Stock Popped Today
(OTC: NTDOY) stock got a lift last week after reporting surprisingly strong results in its most recent quarter -- sales up 8% year over year, and profits per share up 18%. Further helping matters, Nintendo predicted that its operating profits through the end of fiscal 2024 will rise twice that -- 35%, to as much as 510 billion yen.
One week later, on Wednesday, Nintendo shares are on the rise yet again -- up 2.4% through 12:12 p.m. ET. The reason this time isn't earnings, though, but a potential solution to the one sour note Nintendo struck with investors last week.
Sales of Nintendo's once-popular Switch video gaming console continued to slide in the most recent quarter, falling 8% year over year to 13.7 million units, The Fly reported at the time. That's not surprising for a console in its seventh year of production, which is starting to show its age. It does, however, suggest that now might be a good time for Nintendo to give the product a refresh --- or even an entirely new "skin."
Source Fool.com
Nintendo Co. Ltd Stock
With 0 Sell predictions and 2 Buy predictions the community sentiment towards the Nintendo Co. Ltd stock is not clear.
As a result the target price of 72 € shows a very positive potential of 56.9% compared to the current price of 45.89 € for Nintendo Co. Ltd.
