Nintendo (NTDOF) stock was on the move Friday after the video game company won a lawsuit against a streamer. The streamer in this lawsuit is Jesse Keighin, who goes by EveryGameGuru online. He was named in this lawsuit after playing pirated copies of Nintendo games before their official release during his streams.
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The lawsuit against Keighin took place in a Colorado federal court and ruled in favor of Nintendo. As a result, EveryGameGuru now has to pay the video game maker $17,500 in damages. However, some of Nintendo’s other requests in the lawsuit weren’t enforced. Among these were the company’s desire to have the circumvention devices used by Keighin destroyed and an injunction against unnamed third parties.
Interestingly, Nintendo was handed a default ruling in its case against Keighin. This was due to the streamer not responding to the lawsuit against him. He also wasn’t served the lawsuit directly, which forced the papers to be served to his family members. Keighin never appeared in court for the lawsuit, instead forcing the case to move ahead without him.
Nintendo Stock Movement Today
Nintendo stock was down 0.59% on Friday but remained up 43.69% year-to-date. Shares of NTDOF have also rallied 53.94% over the past 12 months.
Investors will note that Nintendo is also in a legal battle with Palworld developer Pocketpair. However, that lawsuit hasn’t been going as well for Nintendo, with some of its recent patent claims being rejected.
Is Nintendo Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Nintendo is Moderate Buy, based on six Buy, three Hold, and two Sell ratings over the past three months. With that comes an average NTDOF stock price target of $93.15, representing a potential 11.75% upside for the shares.
