Cyan Lifted to “Outperform” at Zacks (CYNI)
Cyan (NASDAQ:CYNI) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued on Monday. The firm currently has a $4.50 price objective on the stock. Zacks‘s price target would suggest a potential upside of 24.31% from the stock’s previous close.
Separately, analysts at Jefferies Group cut their price target on shares of Cyan from $4.00 to $3.50 in a research note on Tuesday, August 12th. They now have a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Cyan presently has an average rating of “Hold” and a consensus price target of $7.50.
Shares of Cyan (NASDAQ:CYNI) traded up 3.59% on Monday, hitting $3.75. 177,201 shares of the company’s stock traded hands. Cyan has a 52-week low of $3.18 and a 52-week high of $10.42. The stock’s 50-day moving average is $3.89 and its 200-day moving average is $3.88. The company’s market cap is $176.3 million.
Cyan (NASDAQ:CYNI) last released its earnings data on Monday, August 11th. The company reported ($0.25) EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted ($0.24) earnings per share. The company’s quarterly revenue was down 23.0% on a year-over-year basis. On average, analysts predict that Cyan will post $-1.00 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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