Viking Holdings Ltd. (VIK) is having a moment. The cruise and travel company reported third-quarter results Wednesday that beat Wall Street's expectations, and analysts are responding by lifting their price targets on the stock.
The numbers tell a pretty straightforward story. Viking posted adjusted earnings per share of $1.20 for the quarter, edging past the $1.19 consensus estimate. Revenue came in at $1.9996 billion, just above the $1.992 billion analysts were expecting. Not massive beats, but in this market, beating is beating.
What really caught attention was the booking strength. Advance bookings for 2025 totaled $5,613 million, up 21% from the prior year. Looking further out, 2026 bookings hit $4,925 million, representing a 14% increase. The company's advance bookings per passenger cruise day rose to $782 for 2025 and $861 for 2026, suggesting customers aren't just booking more trips—they're spending more per trip.
"Our strong booking position for both 2025 and 2026 reflects the robust demand for Viking's destination-focused offerings," said President and CFO Leah Talactac.
Investors liked what they heard. Viking Holdings shares gained 1.7% on Thursday, trading at $62.25.
The earnings beat prompted a couple of notable analyst moves. Goldman Sachs analyst Lizzie Dove maintained a Neutral rating but raised her price target from $64 to $66. Meanwhile, Wells Fargo analyst Trey Bowers kept his Equal-Weight rating while bumping his target from $56 to $62. Both moves suggest analysts see the strong booking trends as sustainable, even if they're not quite ready to pound the table on the stock just yet.
