Lindblad Expeditions Holdings

LIND · NASDAQ

$35.45+$1.13 (+3.29%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $34.32

LIND analyst rating

BuyConsensus of 5 analysts over the last 12 months. 60% rate it a buy.

Strong buy0
Buy3
Hold2
Underperform0
Sell0

12-month price target · 9 analysts

Average $35.55 (+0.3% upside)

Low: $29.29
Now: $35.45
High: $42.00

Upgrades and downgrades

The latest rating actions, newest first

LIND analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Jefferies	Oct 8, 2026	Maintains	Hold	$29.00 → $32.00	40%
Jefferies	Sep 9, 2026	Initiates	Hold	$29.00	50%
Stifel	Jul 10, 2026	Maintains	Buy	$27.00 → $32.00	53%
Benchmark	Jun 29, 2026	Maintains	Buy	$25.00 → $34.00	27%
Oppenheimer	Mar 16, 2026	Initiates	Outperform	$25.00	52%
Benchmark	Feb 27, 2026	Maintains	Buy	$18.00 → $25.00	27%
Stifel	Jan 12, 2026	Maintains	Buy	$20.00 → $23.00	53%
Benchmark	Dec 30, 2025	Initiates	Buy	$18.00	27%

The case for and against

Updated Jan 26, 2026

Bull case

Lindblad Expeditions Holdings Inc is positioned for a positive financial trajectory, with management projecting a significant increase in charter bookings, anticipated to reach double-digit percentages in FY26. The company has observed a remarkable acceleration in booking trends, culminating in the highest sales week in its history during early 3Q25, reflecting robust demand for its unique expedition offerings. Additionally, growth in new sales channels, including a 45% increase in bookings from Disney travel agents, underscores the effectiveness of strategic partnerships and underscores the potential for enhanced revenue generation.

Bear case

Lindblad Expeditions Holdings Inc faces challenges in load factor recovery compared to larger cruise lines, primarily due to its ultra-luxury positioning, reliance on new-to-brand customers, and adverse effects from the pandemic. The company's shares are currently trading at 7x projected 2027 EBITDA, significantly lower than the 10x average for its peers, suggesting that the market may be mispricing its recovery potential. Furthermore, management emphasizes that FY25 is a transitional year, with necessary investments for regaining historical load factors expected to occur in the latter half of that year, potentially indicating slower growth in the short term.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.