Nintendo (NTDOF) stock was up on Friday after the company announced the resignation of Nintendo of America President and Chief Operating Officer Doug Bowser. Bowser will start his retirement at the end of the year, which is when his role at Nintendo of America will be taken over by Devon Pritchard.
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Pritchard is a veteran of the video game industry with 19 years of experience. She’s also a long-time member of Nintendo of America’s leadership team. Interestingly, Nintendo appears to want a stronger connection between its Japanese and U.S. teams. As part of this effort, Satoru Shibata will join Nintendo of America as its CEO. He will hold that role while still being the company’s Managing Executive Officer and Corporate Director, as well as holding a seat on its Board of Directors.
Shibata will likely take a front-and-center role at Nintendo of America, as he has done as a leader of various other divisions at the company. This could give the company a stronger connection to its consumers, which is something it lacked under Bowser. This would help fill the gaps left by Satoru Iwata’s death in 2015 and former Nintendo of America President Reginald Fils-Aimé’s departure in 2019.
Nintendo Stock Movement Today
Nintendo stock was up 0.16% on Friday, extending a 47.32% rally year-to-date. The shares have also climbed 55.71% over the past 12 months, largely due to the success of the Switch 2.
Is Nintendo Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Nintendo is Moderate Buy, based on seven Buy, four Hold, and a single Sell rating over the past three months. With that comes an average NTDOF stock price target of $98.40, representing a potential 14.71% upside for the shares.
