Brokerages Set New Oriental Education & Technology Group, Inc. (NYSE:EDU) Target Price at $65.84

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $65.84.

EDU has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. HSBC upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Wednesday, January 28th. New Street Research set a $68.00 price target on shares of New Oriental Education & Technology Group in a report on Wednesday, January 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research report on Monday, December 29th. Finally, China Renaissance raised shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Hedge funds have recently modified their holdings of the stock. Factory Mutual Insurance Co. acquired a new position in shares of New Oriental Education & Technology Group during the third quarter worth $2,505,000. OPTIMAS CAPITAL Ltd acquired a new position in shares of New Oriental Education & Technology Group during the third quarter worth $1,974,000. First Beijing Investment Ltd lifted its position in shares of New Oriental Education & Technology Group by 31.4% during the third quarter. First Beijing Investment Ltd now owns 9,346,501 shares of the company’s stock worth $496,019,000 after purchasing an additional 2,231,169 shares in the last quarter. Barclays PLC lifted its position in shares of New Oriental Education & Technology Group by 104.1% during the third quarter. Barclays PLC now owns 431,564 shares of the company’s stock worth $22,903,000 after purchasing an additional 220,129 shares in the last quarter. Finally, Serenity Capital Management PTE. LTD. lifted its position in shares of New Oriental Education & Technology Group by 167.6% during the third quarter. Serenity Capital Management PTE. LTD. now owns 656,878 shares of the company’s stock worth $34,861,000 after purchasing an additional 411,380 shares in the last quarter.

New Oriental Education & Technology Group Price Performance

Shares of NYSE EDU opened at $56.44 on Friday. The company has a market cap of $8.92 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.00 and a beta of 0.32. New Oriental Education & Technology Group has a 12 month low of $41.62 and a 12 month high of $64.97. The company has a 50-day simple moving average of $56.41 and a 200-day simple moving average of $56.10.

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.