Butterfly Network, Inc. (NYSE:BFLY) Receives $5.56 Average Target Price from Analysts

Shares of Butterfly Network, Inc. (NYSE:BFLY) have been assigned an average recommendation of “Hold” from the six analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $5.5625.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Butterfly Network in a research report on Wednesday, May 6th.

Key Stories Impacting Butterfly Network

Here are the key news stories impacting Butterfly Network this week:

• Positive Sentiment: Investor attention is focused on Butterfly Network’s upcoming second-quarter results. Analysts expect revenue to rise 21.5%, supported by demand for the iQ3 ultrasound system, wider adoption of Compass AI and growth in the Embedded business. A strong report could support the recent rally. Can AI Momentum and Embedded Growth Lift BFLY’s Q2 Results?
• Neutral Sentiment: CEO Joseph DeVivo, EVP John Doherty and CTO Victor Ku collectively sold approximately 317,000 shares at $6.56 per share. The sales were made to cover tax-withholding obligations when equity awards vested, reducing their significance as a signal of weakening confidence; all three executives retain sizable holdings. SEC filing for executive transactions
• Neutral Sentiment: Institutional ownership stands at 37.85%. Recent activity included new positions and a significant increase by BNP Paribas Financial Markets, although the disclosed purchases were relatively small and provide limited evidence of a major change in institutional conviction.
• Negative Sentiment: Founder and Director Jonathan Rothberg sold about 3.8 million shares for roughly $25 million from July 17 through July 22 under a pre-arranged Rule 10b5-1 plan. While the sales were reportedly connected to estate planning, the sharp reduction in his direct ownership may concern investors and add potential overhang. Butterfly Network Founder Sells Shares
• Negative Sentiment: Valuation concerns remain: BFLY is still unprofitable, with analysts expecting a full-year loss, while the consensus rating is “Hold” and the $5.56 target price is below recent trading levels.

Insiders Place Their Bets

In other Butterfly Network news, EVP John N. Doherty sold 57,136 shares of the firm’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $6.56, for a total value of $374,812.16. Following the sale, the executive vice president directly owned 1,397,276 shares in the company, valued at $9,166,130.56. This trade represents a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jonathan M. Rothberg sold 659,913 shares of the company’s stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $6.47, for a total value of $4,269,637.11. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 4,840,207 shares of company stock valued at $31,652,184 in the last three months. Corporate insiders own 21.99% of the company’s stock.

Hedge Funds Weigh In On Butterfly Network

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Palumbo Wealth Management LLC lifted its position in shares of Butterfly Network by 182.9% during the 4th quarter. Palumbo Wealth Management LLC now owns 413,317 shares of the company’s stock worth $1,571,000 after buying an additional 267,238 shares during the last quarter. Clough Capital Partners L P purchased a new position in shares of Butterfly Network in the 4th quarter valued at $845,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Butterfly Network in the 1st quarter valued at $545,000. Keenan LLC acquired a new stake in Butterfly Network during the 4th quarter worth $339,000. Finally, DNB Asset Management AS raised its stake in Butterfly Network by 116.1% during the 4th quarter. DNB Asset Management AS now owns 780,335 shares of the company’s stock worth $2,965,000 after acquiring an additional 419,197 shares in the last quarter. 37.85% of the stock is owned by institutional investors and hedge funds.

Butterfly Network Stock Down 0.2%

Shares of Butterfly Network stock opened at $7.16 on Thursday. Butterfly Network has a 52-week low of $1.32 and a 52-week high of $9.69. The company has a market capitalization of $1.82 billion, a P/E ratio of -23.85 and a beta of 2.05. The company has a 50 day moving average of $6.53 and a 200 day moving average of $4.96.

Butterfly Network (NYSE:BFLY) last announced its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Butterfly Network had a negative net margin of 73.63% and a negative return on equity of 34.41%. The company had revenue of $26.53 million for the quarter, compared to the consensus estimate of $26.08 million. As a group, research analysts anticipate that Butterfly Network will post -0.18 earnings per share for the current fiscal year.

About Butterfly Network

Butterfly Network, Inc is a medical technology company focused on democratizing access to diagnostic imaging through its proprietary ultrasound-on-chip platform. The company’s flagship device, the Butterfly iQ, leverages semiconductor technology to deliver whole-body ultrasound imaging in a handheld form factor. This portable system connects to a compatible smart device, enabling point-of-care scanning across a variety of clinical settings.

Beyond its hardware offering, Butterfly Network provides a cloud-based software suite that supports image storage, analysis and remote collaboration.