Butterfly Network (NYSE:BFLY) Releases Earnings Results, Beats Estimates By $0.03 EPS

Butterfly Network (NYSE:BFLY - Get Free Report) announced its quarterly earnings data on Friday. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03, Zacks reports. Butterfly Network had a negative return on equity of 42.68% and a negative net margin of 129.25%. The business had revenue of $21.23 million during the quarter, compared to analyst estimates of $21.16 million. Butterfly Network updated its FY 2025 guidance to EPS.

Butterfly Network Trading Down 5.4 %

Shares of Butterfly Network stock traded down $0.13 on Monday, reaching $2.21. The stock had a trading volume of 3,125,200 shares, compared to its average volume of 2,880,757. The business's 50 day moving average is $2.53 and its two-hundred day moving average is $3.08. The company has a market cap of $535.65 million, a P/E ratio of -4.79 and a beta of 2.59. Butterfly Network has a 1 year low of $0.82 and a 1 year high of $4.98.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BFLY. Lake Street Capital lowered their price objective on Butterfly Network from $5.00 to $4.00 and set a "buy" rating on the stock in a research note on Monday. William Blair initiated coverage on shares of Butterfly Network in a research note on Monday, March 17th. They issued an "outperform" rating for the company.

Insiders Place Their Bets

In other Butterfly Network news, CEO Joseph Devivo sold 320,215 shares of the firm's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $2.44, for a total value of $781,324.60. Following the sale, the chief executive officer now owns 7,249,789 shares of the company's stock, valued at $17,689,485.16. This trade represents a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 27.28% of the company's stock.

Butterfly Network Company Profile

Butterfly Network, Inc develops, manufactures, and commercializes ultrasound imaging solutions in the United States and internationally. It offers Butterfly iQ, a handheld and single-probe whole body ultrasound system; Butterfly iQ+ and iQ3 ultrasound devices that can perform whole-body imaging in a single handheld probe integrated with the clinical workflow, and accessible on a user's smartphone, tablet, and almost any hospital computer system; and Butterfly iQ+ Vet, a handheld ultrasound system designed for veterinarians.