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Equities researchers at Jefferies Group dropped their price objective on shares of Cyan (NASDAQ:CYNI) from $4.00 to $3.50 in a research report issued on Tuesday. Jefferies Group’s target price would indicate a potential downside of 6.67% from the stock’s previous close.

Cyan (NASDAQ:CYNI) traded down 0.80% during mid-day trading on Tuesday, hitting $3.72. 73,796 shares of the company’s stock traded hands. Cyan has a 1-year low of $3.18 and a 1-year high of $10.42. The stock’s 50-day moving average is $3.93 and its 200-day moving average is $3.89. The company’s market cap is $174.0 million.

Cyan (NASDAQ:CYNI) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.25) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.30) by $0.05. The company had revenue of $21.00 million for the quarter, compared to the consensus estimate of $21.88 million. During the same quarter last year, the company posted ($0.24) earnings per share. Cyan’s revenue was down 23.0% compared to the same quarter last year. On average, analysts predict that Cyan will post $-1.04 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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