Butterfly Network, Inc. (NYSE:BFLY) Stock Now Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Wall Street rates Butterfly Network a “Moderate Buy.” Five of eight analysts recommend buying the stock, with an average 12-month price target of $8.75.
• Recent operating results exceeded expectations. Revenue reached $32.6 million versus an estimated $28.37 million, while the adjusted loss narrowed; management also raised its 2026 revenue outlook and cited new federal business wins.
• Profitability remains a key risk. Butterfly continues to report substantial GAAP losses, a negative net margin and negative return on equity despite improving revenue and adjusted earnings.

Shares of Butterfly Network, Inc. (NYSE:BFLY - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eight brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $8.75.

A number of research analysts have recently weighed in on BFLY shares. Needham & Company LLC began coverage on Butterfly Network in a report on Tuesday, September 22nd. They set a "buy" rating and a $10.00 price target on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Butterfly Network in a research note on Monday, August 3rd. TD Cowen restated a "buy" rating and set a $10.00 price objective on shares of Butterfly Network in a research report on Friday, September 11th. Canaccord Genuity Group initiated coverage on Butterfly Network in a research report on Monday, October 12th. They set a "buy" rating and a $10.00 price objective for the company. Finally, Evercore assumed coverage on Butterfly Network in a research note on Tuesday, September 29th. They set an "outperform" rating and a $15.00 target price on the stock.

Butterfly Network Stock Performance

NYSE BFLY opened at $6.39 on Friday. Butterfly Network has a twelve month low of $1.90 and a twelve month high of $10.21. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -30.43 and a beta of 2.04. The firm's 50 day moving average price is $8.06 and its two-hundred day moving average price is $6.04.

Butterfly Network (NYSE:BFLY - Get Free Report) last released its earnings results on Thursday, October 29th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.03. The company had revenue of $32.60 million during the quarter, compared to analyst estimates of $28.37 million. Butterfly Network had a negative return on equity of 21.38% and a negative net margin of 43.56%. On average, research analysts forecast that Butterfly Network will post -0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Steve Cashman sold 140,112 shares of the firm's stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $7.30, for a total transaction of $1,022,817.60. Following the completion of the sale, the insider directly owned 1,490,295 shares in the company, valued at approximately $10,879,153.50. This trade represents a 8.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Megan Carlson sold 10,114 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $8.74, for a total transaction of $88,396.36. Following the transaction, the chief accounting officer directly owned 401,971 shares in the company, valued at $3,513,226.54. The trade was a 2.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 285,855 shares of company stock valued at $2,426,034 over the last ninety days. Insiders own 21.99% of the company's stock.

Hedge Funds Weigh In On Butterfly Network

A number of hedge funds have recently modified their holdings of BFLY. Bank of America Corp DE lifted its position in Butterfly Network by 71.0% in the first quarter. Bank of America Corp DE now owns 4,165,222 shares of the company's stock worth $16,827,000 after purchasing an additional 1,728,938 shares during the period. Bank of New York Mellon Corp acquired a new stake in Butterfly Network during the second quarter worth $4,878,000. Dimensional Fund Advisors LP increased its holdings in Butterfly Network by 30.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,358,181 shares of the company's stock valued at $9,524,000 after buying an additional 557,100 shares during the period. Sei Investments Co. increased its holdings in Butterfly Network by 30.6% in the 1st quarter. Sei Investments Co. now owns 2,298,894 shares of the company's stock valued at $9,288,000 after buying an additional 539,171 shares during the period. Finally, Swiss National Bank bought a new stake in Butterfly Network in the 1st quarter valued at $1,621,000. 37.85% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Butterfly Network

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

• Positive Sentiment: Q3 results exceeded expectations. Butterfly reported revenue of $32.60 million, ahead of analysts’ roughly $28.37 million estimate. Its adjusted loss was approximately $0.01 per share, better than consensus estimates ranging from a $0.03 to $0.04 loss and substantially improved from the $0.13 loss reported a year earlier. Butterfly Network Reports Third Quarter 2026 Financial Results
• Positive Sentiment: Management raised its 2026 revenue outlook. The higher forecast, along with management’s statement that quarterly revenue and adjusted earnings came in ahead of guidance, suggests improving demand for Butterfly’s semiconductor-based ultrasound devices, cloud software and artificial-intelligence products. Butterfly Network's Q3 Adjusted Loss Narrows as Revenue Increases; 2026 Revenue Outlook Raised
• Positive Sentiment: New federal wins add potential growth and validation. Investors are weighing recently announced federal contracts or business wins as evidence that Butterfly’s portable ultrasound technology may be gaining traction in government and institutional healthcare markets. Is Butterfly Network a Bargain Following Raised Guidance and New Federal Wins?
• Neutral Sentiment: Management’s earnings call provided additional context. The Q3 discussions focused on execution against the company’s growth strategy, adoption of its point-of-care ultrasound platform and the implications of the raised outlook. Butterfly Network Q3 2026 Earnings Call Transcript
• Negative Sentiment: Butterfly remains unprofitable. Despite the narrower adjusted loss, the company continues to report substantial GAAP losses, a negative net margin and negative return on equity. Investors may therefore remain cautious until revenue growth translates into sustained profitability and cash-flow improvement. Butterfly Network Reports Q3 Loss, Beats Revenue Estimates

About Butterfly Network

Butterfly Network, Inc develops portable medical imaging technology designed to make ultrasound more accessible across hospitals, clinics, emergency-care settings and other care environments. The company's core products use a semiconductor-based ultrasound-on-chip platform, replacing conventional ultrasound systems' large arrays of piezoelectric transducers with a compact, software-driven probe.

Its product portfolio includes the Butterfly iQ, iQ+, and iQ3 handheld ultrasound systems, which connect to compatible mobile devices and provide imaging across multiple clinical applications.

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