New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Up – Still a Buy?

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 traded.

Analysts Set New Price Targets

Several research firms recently commented on EDU. New Street Research set a $65.00 target price on shares of New Oriental Education & Technology Group in a research report on Thursday. Weiss Ratings downgraded 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. The Goldman Sachs Group upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and cut their target price for the stock from $67.00 to $65.00 in a research report on Thursday. Finally, Zacks Research downgraded shares of New Oriental Education & Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.24.

New Oriental Education & Technology Group Trading Up 3.5%

The stock has a market cap of $7.39 billion, a price-to-earnings ratio of 17.92, a P/E/G ratio of 0.65 and a beta of 0.17. The stock’s 50-day moving average price is $51.78 and its 200-day moving average price is $54.57.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of 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. PNC Financial Services Group Inc. lifted its position in shares of New Oriental Education & Technology Group by 10.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,372 shares of the company’s stock valued at $186,000 after acquiring an additional 324 shares during the period. Vident Advisory LLC lifted its position in shares of New Oriental Education & Technology Group by 8.2% during the 4th quarter. Vident Advisory LLC now owns 5,939 shares of the company’s stock valued at $327,000 after acquiring an additional 449 shares during the period. Ieq Capital LLC lifted its position in shares of New Oriental Education & Technology Group by 11.5% during the 4th quarter. Ieq Capital LLC now owns 4,760 shares of the company’s stock valued at $262,000 after acquiring an additional 492 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of New Oriental Education & Technology Group by 7,314.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock valued at $28,000 after acquiring an additional 512 shares during the period.

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.