New Oriental Education & Technology Group Inc. (NYSE:EDU)’s share price gapped up before the market opened on Friday . The stock had previously closed at $40.25, but opened at $40.71. New Oriental Education & Technology Group shares last traded at $42.07, with a volume of 977,334 shares.

A number of research firms have issued reports on EDU. Brean Capital reiterated a “buy” rating on shares of New Oriental Education & Technology Group in a report on Tuesday, August 2nd. Zacks Investment Research upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Friday, July 22nd. T.H. Capital increased their target price on New Oriental Education & Technology Group from $34.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, July 21st. Nomura increased their target price on New Oriental Education & Technology Group from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, July 21st. Finally, Jefferies Group reiterated a “buy” rating and set a $50.00 target price on shares of New Oriental Education & Technology Group in a report on Friday, July 8th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $41.27.

The stock has a market capitalization of $6.61 billion and a price-to-earnings ratio of 29.47. The stock’s 50 day moving average is $42.39 and its 200 day moving average is $38.85.

New Oriental Education & Technology Group (NYSE:EDU) last released its earnings results on Wednesday, July 20th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. During the same quarter in the previous year, the firm earned $0.26 EPS. The firm earned $394.90 million during the quarter, compared to analyst estimates of $389.98 million. New Oriental Education & Technology Group’s quarterly revenue was up 20.1% on a year-over-year basis. Analysts predict that New Oriental Education & Technology Group Inc. will post $1.80 earnings per share for the current fiscal year.

New Oriental Education & Technology Group Inc is a provider of private educational services in the People’s Republic of China (the PRC). The Company offers a range of educational programs, services and products, consisting primarily of English and other foreign language training, test preparation courses for admissions and assessment tests in the United States, the PRC and Commonwealth countries, primary and secondary school education, development and distribution of educational content, software and other technology, and online education.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.