For Butterfly Network Inc. [BFLY], Analyst sees a rise to $7. What next?


Butterfly Network Inc. [NYSE: BFLY] jumped around 1.23 points on Tuesday, while shares priced at $7.55 at the close of the session, up 19.46%. The company report on January 11, 2022 that Butterfly Network, Inc. Announces Preliminary Revenue for the Fourth Quarter and Full Year 2021.

Butterfly Network, Inc. (NYSE: BFLY) (“Butterfly” or the “Company”), a digital health company transforming care with next generation, point-of-care ultrasound (“POCUS”), today announced certain preliminary, unaudited results for the quarter and full year ended December 31, 2021.

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“Our team has performed well during the fourth quarter, with revenue exceeding our expectations,” said Dr. Todd Fruchterman, President and CEO of Butterfly. “Having announced our first enterprise-wide institutional deployment with the University of Rochester Medical Center, we are even more energized about Butterfly’s transformational potential to advance the practice of better medicine everywhere as we begin 2022.”.

Butterfly Network Inc. stock is now 12.86% up from its year-to-date (YTD) trading value. BFLY Stock saw the intraday high of $7.66 and lowest of $6.74 per share. The company’s 52-week high price is 29.13, which means current price is +30.96% above from all time high which was touched on 01/11/22.

Compared to the average trading volume of 3.11M shares, BFLY reached a trading volume of 8607360 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Butterfly Network Inc. [BFLY]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BFLY shares is $9.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BFLY stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

UBS have made an estimate for Butterfly Network Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 17, 2021. While these analysts kept the previous recommendation, Cowen raised their target price to Outperform. The new note on the price target was released on June 21, 2021, representing the official price target for Butterfly Network Inc. stock.

The Average True Range (ATR) for Butterfly Network Inc. is set at 0.58, with the Price to Sales ratio for BFLY stock in the period of the last 12 months amounting to 35.68. The Price to Book ratio for the last quarter was 3.28, with the Price to Cash per share for the same quarter was set at 2.27.

How has BFLY stock performed recently?

Butterfly Network Inc. [BFLY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.02. With this latest performance, BFLY shares gained by 6.34% in over the last four-week period, additionally sinking by -30.54% over the last 6 months – not to mention a drop of -61.85% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BFLY stock in for the last two-week period is set at 55.29, with the RSI for the last a single of trading hit 61.81, and the three-weeks RSI is set at 50.99 for Butterfly Network Inc. [BFLY]. The present Moving Average for the last 50 days of trading for this stock 7.74, while it was recorded at 6.62 for the last single week of trading, and 11.17 for the last 200 days.

Butterfly Network Inc. [BFLY]: Deeper insight into the fundamentals

Butterfly Network Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.50 and a Current Ratio set at 12.00.

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Insider trade positions for Butterfly Network Inc. [BFLY]

There are presently around $694 million, or 54.60% of BFLY stock, in the hands of institutional investors. The top three institutional holders of BFLY stocks are: FMR LLC with ownership of 13,222,630, which is approximately 7.239% of the company’s market cap and around 1.20% of the total institutional ownership; VANGUARD GROUP INC, holding 12,738,264 shares of the stock with an approximate value of $96.17 million in BFLY stocks shares; and BLACKROCK INC., currently with $84.12 million in BFLY stock with ownership of nearly 102.916% of the company’s market capitalization.

102 institutional holders increased their position in Butterfly Network Inc. [NYSE:BFLY] by around 18,892,612 shares. Additionally, 66 investors decreased positions by around 6,261,215 shares, while 45 investors held positions by with 66,809,714 shares. The mentioned changes placed institutional holdings at 91,963,541 shares, according to the latest SEC report filing. BFLY stock had 38 new institutional investments in for a total of 1,388,193 shares, while 35 institutional investors sold positions of 3,831,836 shares during the same period.