Cyan CYNI, headquartered in Petaluma, California, is a network gear and services provider. According to Market Wired, Cyan announced plans to expand its Blue Planet software-defined network applications and improve Planet Inventory and asset management application.
Cyan recently had its initial public offering on May 9.
Analysts at J.P. Morgan, Jefferies and Goldman Sachs are bullish on Cyan for the most part, with analysts at the former two initiating Cyan with Overweight and Buy and analysts at Goldman Sachs initiating with a Neutral rating.
J.P. Morgan and Jefferies analysts cited the unique technological capabilities of Blue Planet and its upside for Cyan. Cyan is positioned to build and operate networks less expensively, increasing its margins. Goldman analysts stated that the potential for limited traction and monetization of Blue Planet may prove problematic for Cyan in the future.
Shares of Cyan closed at $13.35 on Friday.
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