BFLY (Butterfly Network Inc.) stock is in for a key growth catalyst

In the latest session, Butterfly Network Inc. (NYSE: BFLY) closed at $1.98 down -0.50% from its previous closing price of $1.99. In other words, the price has decreased by -$0.0100 from its previous closing price. On the day, 1243678 shares were traded. BFLY stock price reached its highest trading level at $2.0800 during the session, while it also had its lowest trading level at $1.9350.

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For a deeper understanding of Butterfly Network Inc.’s stock, let’s take a closer look at its various ratios. For the most recent quarter (mrq), Quick Ratio is recorded 6.90 and its Current Ratio is at 8.10. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Oppenheimer on November 29, 2022, initiated with a Outperform rating and assigned the stock a target price of $4.50.

On October 04, 2022, B. Riley Securities started tracking the stock assigning a Buy rating and target price of $9.50.

On December 17, 2021, UBS started tracking the stock assigning a Neutral rating and target price of $7.UBS initiated its Neutral rating on December 17, 2021, with a $7 target price.

Insider Transactions:

Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Mar 06 when Stoica Andrei G sold 31,965 shares for $2.25 per share. The transaction valued at 71,892 led to the insider holds 1,113,584 shares of the business.

Martin John David sold 4,841 shares of BFLY for $11,684 on Feb 13. The Chief Medical Officer now owns 286,516 shares after completing the transaction at $2.41 per share. On Dec 19, another insider, Shahida Darius, who serves as the Chief Strategy/Bus Dev Officer of the company, sold 26,885 shares for $2.36 each. As a result, the insider received 63,446 and left with 629,908 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 5.57 while its Price-to-Book (P/B) ratio in mrq is 1.15.

Stock Price History:

Over the past 52 weeks, BFLY has reached a high of $8.72, while it has fallen to a 52-week low of $1.82. The 50-Day Moving Average of the stock is 2.4570, while the 200-Day Moving Average is calculated to be 3.8135.

Shares Statistics:

For the past three months, BFLY has traded an average of 2.05M shares per day and 1.68M over the past ten days. A total of 200.17M shares are outstanding, with a floating share count of 154.75M. Insiders hold about 2.50% of the company’s shares, while institutions hold 51.80% stake in the company. Shares short for BFLY as of Jan 30, 2023 were 16.87M with a Short Ratio of 18.15M, compared to 18.38M on Dec 29, 2022. Therefore, it implies a Short% of Shares Outstanding of 8.41% and a Short% of Float of 11.18%.

Earnings Estimates

There are 3 different market analysts currently analyzing its stock. On average, analysts expect EPS of -$0.22 for the current quarter, with a high estimate of -$0.18 and a low estimate of -$0.24, while EPS last year was -$0.08. The consensus estimate for the next quarter is -$0.2, with high estimates of -$0.2 and low estimates of -$0.21.

Analysts are recommending an EPS of between -$0.86 and -$0.91 for the fiscal current year, implying an average EPS of -$0.89. EPS for the following year is -$0.82, with 3 analysts recommending between -$0.81 and -$0.84.

Revenue Estimates

A total of 3 analysts believe the company’s revenue will be $19.93M this quarter.It ranges from a high estimate of $20.1M to a low estimate of $19.6M. As of the current estimate, Butterfly Network Inc.’s year-ago sales were $18.99M, an estimated increase of 5.00% from the year-ago figure. For the next quarter, 2 analysts are estimating revenue of $19.3M, an increase of 23.90% over than the figure of $5.00% in the same quarter last year. There is a high estimate of $19.7M for the next quarter, whereas the lowest estimate is $18.9M.

A total of 3 analysts have provided revenue estimates for BFLY’s current fiscal year. The highest revenue estimate was $74.51M, while the lowest revenue estimate was $74M, resulting in an average revenue estimate of $74.34M. In the same quarter a year ago, actual revenue was $62.56M, up 18.80% from the average estimate. Based on 3 analysts’ estimates, the company’s revenue will be $89.88M in the next fiscal year. The high estimate is $93.4M and the low estimate is $85M. The average revenue growth estimate for next year is up 20.90% from the average revenue estimate for this year.