William Blair analyst Andrew Brackmann has reiterated their bullish stance on BFLY stock, giving a Buy rating today.
Andrew Brackmann has given his Buy rating due to a combination of factors that reflect Butterfly Network’s promising growth trajectory. The company’s first-quarter results were in line with expectations, showing a slight revenue increase and an adjusted EBITDA loss that was better than anticipated. Despite potential risks such as uncertainties among global health customers and tariffs, the company has maintained its full-year revenue and EBITDA guidance, indicating confidence in its long-term growth strategy.
Butterfly Network’s core POCUS business is experiencing expanding interest from hospital systems and medical schools, which is expected to boost probe sales in the future. The company is also on the brink of signing a significant hospital enterprise customer, which would further integrate their Compass software. Additionally, Butterfly’s future growth is supported by initiatives like Butterfly Garden, potential partnerships in the GenAI space, and promising developments in HomeCare. These factors collectively reinforce a positive outlook for the stock.
According to TipRanks, Brackmann is an analyst with an average return of -7.2% and a 33.33% success rate. Brackmann covers the Healthcare sector, focusing on stocks such as NeoGenomics, Guardant Health, and Butterfly Network.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $5.00 price target.