After a 12% pullback, the StockPicking.com traders suggest Nintendo offers an opportunity.
Nintendo Co., Ltd (ADR) (OTCMKTS:NTDOY) - Email Alert - 11/11/20 - 8:40 AM EST
We are placing another alert on Nintendo Co., Ltd (ADR) (OTCMKTS:NTDOY). On October 23rd we alerted the stock at $65.63 a share and a gave it a short term price target of $72. Over a few days the stock rose to $73.75 a share taking out our Short Term Target. The stock has since come in some and trading at $64.41. We like this oppportunity. Previously we alerted Nintendo at $26.99 a share and the stock has continually climbed higher.
Nintendo reported good 2nd Quarter numbers as we stated they would in our last alert due to the rise in gaming from stay at home pandemic problems and the popularity of its games, Nintendo Switch console, and Switch online gaming... the reasons we 1st alerted the stock in 2017. With upcoming holiday buying, we expect strong sales. Nintendo reported 2nd Quarter September 2020 earnings of $1.03 per share on revenue of $3.9 billion. The consensus earnings estimate was $0.57 per share on revenue of $2.3 billion. Revenue grew 53.0% on a year-over-year basis. Those are great numbers and we would use pullbacks as opportunites.
SHORT-TERM PRICE TARGET
Rise in gaming from Stay-at-home, earnings blow out, recent pullback
OUR BULLISH RATING 1-10
November 04, 2020 - Nintendo CO Ltd ADR (NTDOY) reported 2nd Quarter September 2020 earnings of $1.03 per share on revenue of $3.9 billion. The consensus earnings estimate was $0.57 per share on revenue of $2.3 billion. Revenue grew 53.0% on a year-over-year basis.
The stock has a 52 week high of $73.75 and a low of $35.82. Support is around $59 a share and should be a good location for a protective sell stop order or self-imposed sell alert.
Nintendo Co., Ltd., together with its subsidiaries, develops, manufactures, and distributes electronic entertainment products in Japan, the Americas, Europe, and internationally. It offers video game platforms, playing cards, Karuta, and other products; and handheld and home console hardware systems and related software. The company was formerly known as Nintendo Playing Card Co., Ltd. and changed its name to Nintendo Co., Ltd. in 1963. Nintendo Co., Ltd. was founded in 1889 and is headquartered in Kyoto, Japan.