Butterfly Network, Inc. (NYSE: BFLY) is a medical-device and digital-health company that develops semiconductor-based, "ultrasound-on-chip" imaging technology. Its stock has drawn a wave of fresh, mostly bullish coverage in late 2026.
Reviewing current, individually attributed analyst price targets yields five verifiable entries: Canaccord Genuity's William Plovanic at $10 (initiated October 2026), TD Cowen at $10 (reiterated September 2026), Craig-Hallum's Chase Knickerbocker at $10 (September 2026), Needham's David Saxon at $10 (initiated September 2026), and Evercore ISI at $15 (initiated September 2026). The arithmetic mean is $11.00, which rounds to a clean $11 central target, with a low-to-high range of $10 to $15.
The spread is notable: four of five firms converge on $10, while Evercore's $15 stands out on the view that Butterfly is "more than a one-partner story." Analysts generally cite new product launches, enterprise integration, and AI-enabled partnerships as catalysts, while acknowledging that profitability remains some distance away. Notably, some aggregators still carry older, lower targets from earlier in 2026, which is why their headline "consensus" figures can sit below $9; those figures reflect stale inputs rather than the current Street view.
The stock last closed near $7.47, having roughly quadrupled over the trailing year. Reaching the $11 central target would require a move of about 47%—a substantial advance, not a marginal one. It is also worth noting that BFLY trades below its 52-week high of roughly $10.21 and near the 50-day moving average around $8.50, so the shares have cooled from their recent peak even as the longer-term uptrend remains intact.
The company reported record second-quarter 2026 revenue of $32.61 million, up from $23.38 million a year earlier, and raised its full-year 2026 outlook. It is, however, still unprofitable, posting a GAAP (generally accepted accounting principles) net loss of $12.91 million in the quarter. That combination—strong top-line momentum alongside ongoing losses—defines the path toward the target: investors are being asked to value future revenue scaling and licensing economics rather than current earnings.
Durable technical reference points matter here. The 52-week high near $10.20 acts as a key resistance level, and the $10 mark is also a psychological level where four of the five analyst targets sit. The 50-day moving average near $8.50 has functioned as near-term resistance after the post-earnings pullback, while the 200-day moving average around $5.88 anchors the longer-term uptrend and represents a deeper support level. A sustained push toward $11 would first need to reclaim the $10 zone.
Analyst price targets typically reflect a roughly 12-month research horizon, and the targets used here were issued in September and October 2026. Investors should monitor the next earnings release, guidance updates on the Butterfly Embedded and licensing segments, any new partnership announcements, and analyst revisions to revenue estimates. Changes in the pace of the Midjourney rollout and any commentary on the path toward profitability will be especially important for how the market interprets the gap between the current price and the $11 target.
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The $11 central target is the average of five verified, current analyst price targets, which span a wide $10 to $15 range. Reaching it would require a substantial gain of roughly 47% from the latest close near $7.47. The bull case rests on accelerating revenue, the transformation of Butterfly into a semiconductor-licensing platform through the Midjourney deal, and expanding AI-driven product lines. The bear case centers on continued losses, execution and concentration risk, and a valuation that already reflects meaningful future success. With four of five analysts clustering at $10 and Evercore's $15 outlier, the Street's disagreement is real but directionally bullish. Whether the stock reaches $11 will depend most on sustained revenue growth, new partnership signings, and progress toward profitability—none of which is guaranteed.
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A.I.dvisor indicates that over the last year, BFLY has been loosely correlated with PACB. These tickers have moved in lockstep 52% of the time. This A.I.-generated data suggests there is some statistical probability that if BFLY jumps, then PACB could also see price increases.
| Ticker / NAME | Correlation To BFLY | 1D Price Change % | ||
|---|---|---|---|---|
| BFLY | 100% | -4.08% | ||
| PACB - BFLY | 52% Loosely correlated | -3.74% | ||
| TXG - BFLY | 45% Loosely correlated | -7.73% | ||
| QSI - BFLY | 44% Loosely correlated | -6.50% | ||
| CERS - BFLY | 41% Loosely correlated | -3.35% | ||
| NTRA - BFLY | 38% Loosely correlated | -2.91% | ||
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| Ticker / NAME | Correlation To BFLY | 1D Price Change % |
|---|---|---|
| BFLY | 100% | -4.08% |
| Medical/Nursing Services industry (139 stocks) | 3% Poorly correlated | -0.86% |
| Health Services industry (240 stocks) | 3% Poorly correlated | +2.83% |