Cyan PT Lowered to $4.00 (CYNI)
Equities researchers at Jefferies Group lowered their price objective on shares of Cyan (NASDAQ:CYNI) from $6.00 to $4.00 in a research report issued on Tuesday, American Banking and Market News reports. Jefferies Group’s target price suggests a potential upside of 14.29% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at FBR & Co. initiated coverage on shares of Cyan in a research note to investors on Tuesday, November 12th. They set a “market perform” rating on the stock. Separately, analysts at FBR Capital Markets initiated coverage on shares of Cyan in a research note to investors on Tuesday, November 12th. They set a “market perform” rating and a $4.50 price target on the stock. Finally, analysts at Pacific Crest downgraded shares of Cyan from an “outperform” rating to a “sector perform” rating in a research note to investors on Wednesday, October 30th. They now have a $18.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $8.83.
Shares of Cyan (NASDAQ:CYNI) traded down 3.58% on Tuesday, hitting $3.50. The stock had a trading volume of 1,511,704 shares. Cyan has a one year low of $3.60 and a one year high of $15.05. The stock has a 50-day moving average of $4.43 and a 200-day moving average of $7.96.
Cyan (NASDAQ:CYNI) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.16) by $0.02. The company had revenue of $37.70 million for the quarter, compared to the consensus estimate of $37.30 million. The company’s quarterly revenue was up 30.9% on a year-over-year basis. On average, analysts predict that Cyan will post $-1.03 earnings per share for the current fiscal year.
Cyan, Inc has carrier-grade networking solutions that transform legacy networks into open, high-performance networks.
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