Viking Holdings LtdNYSE: VIK

The initial public offering of Viking Holdings Ltd. (VIK, Financial) was quite successful, raising $1.54 billion at around $24 per share.

River cruise operator Viking reported first-quarter results on Wednesday morning. The stock sank on the news.

LOS ANGELES--(BUSINESS WIRE)--Viking® (www.viking.com) (NYSE: VIK) today is celebrating the start of its third season in the Great Lakes, with both of its identical expedition ships, the Viking Octantis® and the Viking Polaris®, now deployed in the region. Voted #1 for Expeditions by Condé Nast Traveler in the most recent Readers' Choice Awards, Viking offers a variety of itineraries that operate between Toronto and Duluth and explore all five Great Lakes. The 378-guest expeditions vessels, whi.

Viking has earned a ‘Buy' rating in initial coverage from analysts at Bank of America (BofA) and UBS who are bullish on the cruise operator's luxury focus. The cruise company, which operates voyages across the river, ocean and expeditionary segments, debuted on the New York Stock Exchange earlier this month at about $26 per share and traded hands at about $31 on Tuesday afternoon.

Viking Holdings (VIK) shares gained close to 3% in intraday trading Tuesday after several analysts initiated coverage of the cruise line with bullish comments about its outlook.

Viking is known for its high-end European river cruises, which have proved popular with wealthy older Americans.

River cruise operator Viking went public at $24 earlier this month. Viking caters to an entirely different market from Carnival, and that could be a good thing.

Viking Holdings has had a successful initial public offering, and the luxury cruise operator has established a strong market position. With the stock already reflecting positive news and showing gains on its first day of trading, I am hesitant to invest at this point.

Viking Holdings, a cruise operator, started trading on the New York Stock Exchange with shares priced at $26.47, a 10% jump from its $24 offering price. This surge in value following the IPO suggests a market valuation of $11.4 billion for the company, making it the largest US public offering of 2024.