An Analysis Of Butterfly Network Inc (NYSE: BFLY), And Its Business Forecast

In the last trading session, 1.46 million shares of the Butterfly Network Inc (NYSE:BFLY) were traded, and its beta was 2.04. Most recently the company’s share price was $1.04, and it changed around -$0.04 or -3.70% from the last close, which brings the market valuation of the company to $216.46M. BFLY currently trades at a discount to its 52-week high of $2.90, offering almost -178.85% off that amount. The share price’s 52-week low was $0.76, which indicates that the current value has risen by an impressive 26.92% since then. We note from Butterfly Network Inc’s average daily trading volume that its 10-day average is 1.2 million shares, with the 3-month average coming to 1.86 million.

Butterfly Network Inc (NYSE:BFLY) trade information

Instantly BFLY has showed a red trend with a performance of -3.70% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -3.70% year-to-date, but still up 1.96% over the last five days. On the other hand, Butterfly Network Inc (NYSE:BFLY) is -12.61% down in the 30-day period. We can see from the shorts that 19.9 million shares have been sold at a short interest cover period of 7.69 day(s).

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free
Sponsored

The consensus price target as assigned by Wall Street analysts is $4.5, which translates to bulls needing to increase their stock price by 76.89% from its current value. Analyst projections state that BFLY is forecast to be at a low of $4.5 and a high of $4.5.

Butterfly Network Inc (BFLY) estimates and forecasts

Butterfly Network Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -14.05 percent over the past six months and at a 30.77% annual growth rate that is well above the industry average of 23.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 29.40% in revenue this quarter, and will report an increase of 21.40% in the next quarter. The year-over-year growth rate is expected to be 10.50%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $16.8 million in revenue for the current quarter. 2 analysts expect Butterfly Network Inc to make $19.05 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $15.48 million and $18.49 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 8.60%. Forecasts for the next quarter put sales growth at 3.00%.

BFLY Dividends

Butterfly Network Inc’s next quarterly earnings report is expected to be released around May 09 and May 13.

Butterfly Network Inc (NYSE:BFLY)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 14.88% of Butterfly Network Inc shares, and 43.27% of them are in the hands of institutional investors. The stock currently has a share float of 50.84%. Butterfly Network Inc stock is held by 211 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 7.20% of the shares, which is about 12.97 million shares worth $29.82 million.

ARK Investment Management, LLC, with 7.06% or 12.72 million shares worth $15.0 million as of Sep 29, 2023, holds the second largest percentage of outstanding shares.

ARK ETF Tr-ARK Genomic Revolution ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Sep 29, 2023. The former held 12.6 million shares worth $14.87 million, making up 6.99% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 4.11 million shares worth around $9.46 million, which represents about 2.28% of the total shares outstanding.