Viking (NYSE:VIK) Shares Gap Down – Should You Sell?

Viking Holdings Ltd (NYSE:VIK)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $45.39, but opened at $43.53. Viking shares last traded at $43.57, with a volume of 920,223 shares changing hands.

Wall Street Analysts Forecast Growth

VIK has been the topic of several research reports. Stifel Nicolaus upped their price target on shares of Viking from $39.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Company increased their price target on shares of Viking from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Barclays upped their price objective on Viking from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Morgan Stanley raised Viking from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $37.00 to $49.00 in a research note on Tuesday, November 12th. Finally, Bank of America raised their price target on Viking from $40.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.50.

Viking Price Performance

The business’s 50-day moving average is $38.02 and its two-hundred day moving average is $34.51.

Viking (NYSE:VIK) last posted its earnings results on Thursday, August 22nd. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.07. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.61 billion. Research analysts predict that Viking Holdings Ltd will post 1.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Avior Wealth Management LLC acquired a new stake in Viking in the 3rd quarter valued at approximately $27,000. Valley Wealth Managers Inc. acquired a new position in shares of Viking during the 2nd quarter worth about $35,000. American National Bank acquired a new position in shares of Viking during the 2nd quarter worth about $68,000. Sunbelt Securities Inc. bought a new position in shares of Viking in the 2nd quarter valued at about $68,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Viking in the third quarter valued at about $181,000.

About Viking

Viking Holdings Ltd engages in the passenger shipping and other forms of passenger transport in North America, the United Kingdom, and internationally. It operates through River and Ocean segments. The company also operates as a tour entrepreneur for passengers and related activities in tourism. As of December 31, 2023, it operated a fleet of 92 ships, including 81 river vessels comprising 58 Longships, 10 smaller classes based on the Longship design, 11 other river vessels, and 1 river vessel charter and the Viking Mississippi; 9 ocean ships; and 2 expedition ships.