Recent Update from Josh Jennings of TD Cowen
In a report released yesterday, Josh Jennings from TD Cowen reiterated a Buy rating on Butterfly Network (BFLY) with a price target of $4.50. This rating is a positive indication for investors looking to buy the stock.
Analyst Background and Expertise
Josh Jennings is a 4-star analyst at TD Cowen, known for his expertise in the Healthcare sector. With an average return of 7.1% and a 51.61% success rate, Jennings has demonstrated his ability to make accurate predictions on stocks like Boston Scientific, Edwards Lifesciences, and Humacyte.
Current Consensus vs. Analyst Recommendation
Currently, the analyst consensus on Butterfly Network is a Moderate Buy with an average price target of $3.00. However, Jennings’ rating contradicts this sentiment, indicating that he believes the stock has more upside potential.
Insider Sentiment
The company’s corporate insider activity shows negative sentiment, with 35 insiders selling their shares over the past quarter. This increase in insider selling is a concern for investors and may indicate that the stock is due for a correction.
Company Overview
Butterfly Network is a blank check company, Longview Acquisition Corp. The company has a one-year high of $3.78 and a one-year low of $0.67, with an average volume of 2.91M shares traded daily.
Recent News and Developments
Butterfly Network’s management will be meeting with Oppenheimer to discuss their strategy and future plans. The company has also seen its stock surge 142% year-to-date due to the success of its ultrasound technology.
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