New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Up – What’s Next?

New Oriental Education & Technology Group, Inc. (NYSE:EDU) shares gapped up before the market opened on Friday . The stock had previously closed at $45.20, but opened at $47.13. New Oriental Education & Technology Group shares last traded at $46.8980, with a volume of 108,825 shares traded.

Analysts Set New Price Targets

A number of analysts have commented on the stock. The Goldman Sachs Group raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $67.00 to $65.00 in a report on Thursday. New Street Research set a $65.00 target price on shares of New Oriental Education & Technology Group in a report on Thursday. Zacks Research lowered shares of New Oriental Education & Technology Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Weiss Ratings lowered shares of New Oriental Education & Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.24.

New Oriental Education & Technology Group Trading Up 3.8%

The company has a market cap of $7.41 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 0.64 and a beta of 0.17. The firm’s fifty day moving average price is $51.98 and its 200-day moving average price is $54.63.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $0.10 earnings per share (EPS) for the quarter. New Oriental Education & Technology Group had a net margin of 7.82% and a return on equity of 11.67%. The company had revenue of $1.42 billion during the quarter. As a group, research analysts anticipate that New Oriental Education & Technology Group, Inc. will post 3.19 EPS for the current year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EDU. Caitong International Asset Management Co. Ltd boosted its stake in New Oriental Education & Technology Group by 7,314.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock worth $28,000 after purchasing an additional 512 shares during the period. EverSource Wealth Advisors LLC boosted its stake in New Oriental Education & Technology Group by 106.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock worth $31,000 after purchasing an additional 279 shares during the period. Atlas Capital Advisors Inc. acquired a new position in New Oriental Education & Technology Group in the 4th quarter worth $72,000. Raymond James Financial Inc. acquired a new position in New Oriental Education & Technology Group in the 2nd quarter worth $111,000. Finally, Leonteq Securities AG acquired a new position in New Oriental Education & Technology Group in the 4th quarter worth $155,000.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.