Butterfly Network Inc. (BFLY) Sees Q4 Revenue Growth of 41%, Boosting Price Target to $6 with 64% Upside Potential.

Butterfly Network Inc. (NYSE:BFLY) reported Q4 revenue of $31.5 million, a 41% YoY increase. TD Cowen increased its price target to $6 from $4.50, maintaining a Buy rating. The company is evolving its strategy from a medical device company to a semiconductor-based company focused on AI-native imaging, expanding enterprise adoption and commercializing HomeCare through its proprietary Ultrasound-on-Chip technology. The firm believes Butterfly Embedded could turn the company into more of a tech player rather than a pure play medical technology business.