Last Updated: 19 Sep 2024
Executive Summary
Butterfly Network Inc. (BFLY) is a digital health company that develops, manufactures, and markets ultrasound imaging solutions. The company has a market capitalization of $406.016 million and is headquartered in Guilford, Connecticut. BFLY's latest stock price is $1.91.
Company Overview
Butterfly Network was founded in 2011 and went public in 2021. The company's mission is to make ultrasound imaging more accessible and affordable. BFLY's products include the Butterfly iQ+, a handheld ultrasound device that can be used by clinicians in a variety of settings.
Fundamental Analysis
BFLY's financial performance has been mixed in recent quarters. The company reported a net loss of $103.443 million in the fiscal year ended December 2023. Revenue for the year was $71.08 million, up 16.2% year-over-year.
BFLY's gross profit margin was 55.5% in the fiscal year ended December 2023, up from 49.5% in the prior year. The company's operating margin was -0.774%, an improvement from -1.19% in the prior year.
BFLY's balance sheet is relatively strong. The company has $170.6 million in cash and equivalents and no long-term debt.
Technical Analysis
BFLY's stock price has been trading in a range between $0.674 and $2.20 over the past 52 weeks. The stock is currently trading near the bottom of this range.
The technical indicators are mixed. The relative strength index (RSI) is below 30, indicating that the stock is oversold. However, the moving average convergence divergence (MACD) is below its signal line, indicating that the stock may be due for a correction.
Short Term Outlook
The short-term outlook for BFLY is uncertain. The stock is trading near its 52-week low and the technical indicators are mixed. Investors should be cautious about buying BFLY at current levels.
Long Term Outlook
The long-term outlook for BFLY is more positive. The company is a leader in the handheld ultrasound market and has a strong balance sheet. BFLY is also well-positioned to benefit from the growing demand for ultrasound imaging.
Analyst Recommendations
Analysts are mixed on BFLY. One analyst has a Strong Buy rating on the stock, while another has a Buy rating. The average analyst target price is $3.00.
Conclusion
Butterfly Network Inc. is a digital health company with a strong balance sheet and a leading position in the handheld ultrasound market. The company's financial performance has been mixed in recent quarters, but the long-term outlook is positive. Investors should be cautious about buying BFLY at current levels, but the stock could be a good long-term investment.
