William Blair analyst Andrew Brackmann has maintained their bullish stance on BFLY stock, giving a Buy rating today.
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Andrew Brackmann has given his Buy rating due to a combination of factors that suggest potential for long-term growth despite current challenges. The company has shown improvements in margins and adjusted EBITDA loss guidance, indicating a positive trend in financial health. While the revenue guidance has been lowered and the resignation of the CFO presents some uncertainty, these are seen as short-term hurdles rather than long-term impediments.
Brackmann acknowledges the extended sales cycle and the impact of policy changes on Butterfly Network’s operations. However, he remains optimistic as the demand for Butterfly’s innovative technology remains strong among larger customers. The delays in order conversion are attributed to external factors rather than a lack of interest or competition, suggesting that once these issues are resolved, the company is well-positioned to capitalize on its market opportunities.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BFLY in relation to earlier this year.