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

New Oriental Education & Technology Group, Inc. (NYSE:EDU)’s stock price 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.

Wall Street Analysts Forecast Growth

EDU has been the topic of several analyst reports. Zacks Research cut shares of New Oriental Education & Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. New Street Research set a $65.00 price target on shares of New Oriental Education & Technology Group in a research report on Thursday. Weiss Ratings cut shares of New Oriental Education & Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. Finally, The Goldman Sachs Group raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and cut their price target for the stock from $67.00 to $65.00 in a research report on Thursday. One 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 company’s stock. According to data from MarketBeat.com, New Oriental Education & Technology Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.24.

New Oriental Education & Technology Group Stock Performance

The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 0.64 and a beta of 0.17. The company has a fifty day simple moving average of $51.98 and a two-hundred day simple moving average of $54.63.

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

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of institutional investors have recently modified their holdings of EDU. Invesco Ltd. raised its holdings in shares of New Oriental Education & Technology Group by 5,697.3% during the 4th quarter. Invesco Ltd. now owns 4,610,905 shares of the company’s stock worth $253,738,000 after buying an additional 4,531,370 shares in the last quarter. First Beijing Investment Ltd raised its holdings in shares of New Oriental Education & Technology Group by 31.4% during the 3rd quarter. First Beijing Investment Ltd now owns 9,346,501 shares of the company’s stock worth $496,019,000 after buying an additional 2,231,169 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth $86,526,000. Federated Hermes Inc. raised its holdings in shares of New Oriental Education & Technology Group by 13,865.2% during the 4th quarter. Federated Hermes Inc. now owns 742,249 shares of the company’s stock worth $40,846,000 after buying an additional 736,934 shares in the last quarter. Finally, Tiger Pacific Capital LP acquired a new position in shares of New Oriental Education & Technology Group during the 2nd quarter worth $38,056,000.

New Oriental Education & Technology Group Company Profile

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.