Why Butterfly Network Stock Flew Higher Today
Shares of Butterfly Network (NYSE: BFLY) have flown higher today, up by 10% as of 12:40 p.m. EDT, after getting a bullish initiation from Wall Street. Cowen started coverage of the healthcare company with an outperform rating (equivalent to a buy).
Analyst Joshua Jennings assigned Butterfly Network an outperform rating alongside a price target of $20, representing approximately 43% upside from Friday's closing price. Butterfly Network sells its Butterfly iQ+, a handheld ultrasound device, that works with a mobile app. Healthcare providers pay a subscription fee to use the software platform.
Butterfly iQ+ and the accompanying app. Image source: Butterfly Network.
Source Fool.com