Nintendo (NTDOF) stock rallied on Tuesday after the video game company increased its sales forecast for the Switch 2. The company now expects the Switch 2 to sell 19 million units during its current fiscal year, which ends in March 2026. That’s a major jump from its previous guidance of 15 million units for the period.
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With the massive success of the Switch 2, Nintendo could break even more records. The console has already become the fastest-selling in history, and there’s potential for it to become the best-selling console as well. That title is currently held by Sony’s (SONY) PlayStation 2, which sold 160.63 million units during its lifetime. The original Switch almost reached that with 154.01 million units sold, including roughly 15 million units during its first year on the market.
Turning to software, Nintendo has also performed well with strong game sales on the Switch 2. Nintendo reported 20.62 million software sales since the Switch 2’s launch, prompting it to update its full-year guidance to a range of 45 million to 48 million.
Nintendo Stock Movement Today
Nintendo stock was up 5.44% on Tuesday, extending a 55.79% rally year-to-date. The shares have also increased 65.88% over the past 12 months. While the Switch 2 only launched four months ago, high expectations in the lead-up to the console’s launch helped push NTDOF stock higher throughout the year.
Is Nintendo Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Nintendo is Hold, based on three Buy, three Hold, and two Sell ratings over the past three months. With that comes an average NTDOF stock price target of $92.92, representing a potential 2.05% upside for the shares.
