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

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

A number of equities analysts have commented on EDU shares. HSBC raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 28th. China Renaissance raised shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research note on Monday, December 29th. New Street Research set a $68.00 price target on shares of New Oriental Education & Technology Group in a research report on Wednesday, January 28th. Finally, Zacks Research raised New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Hedge funds have recently made changes to their positions in the company. First Beijing Investment Ltd raised its holdings in New Oriental Education & Technology Group by 31.4% in 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. Aspex Management HK Ltd grew its position in shares of New Oriental Education & Technology Group by 18.8% in the 2nd quarter. Aspex Management HK Ltd now owns 6,981,188 shares of the company’s stock worth $376,635,000 after buying an additional 1,106,716 shares during the period. Invesco Ltd. grew its position in shares of New Oriental Education & Technology Group by 5,697.3% in 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 during the period. Alkeon Capital Management LLC increased its stake in shares of New Oriental Education & Technology Group by 101.3% in the 2nd quarter. Alkeon Capital Management LLC now owns 2,193,486 shares of the company’s stock worth $118,339,000 after acquiring an additional 1,104,000 shares in the last quarter. Finally, Discerene Group LP increased its stake in shares of New Oriental Education & Technology Group by 23.7% in the 4th quarter. Discerene Group LP now owns 1,955,430 shares of the company’s stock worth $107,607,000 after acquiring an additional 374,916 shares in the last quarter.

New Oriental Education & Technology Group Stock Down 0.0%

NYSE:EDU opened at $54.46 on Monday. The business’s 50-day moving average price is $57.13 and its two-hundred day moving average price is $55.59. New Oriental Education & Technology Group has a twelve month low of $40.66 and a twelve month high of $64.97. The stock has a market cap of $8.61 billion, a P/E ratio of 23.08, a PEG ratio of 0.93 and a beta of 0.28.

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.