TD Cowen Remains Bullish on Butterfly (BFLY), iQ3 Results Bolster Adoption Potential

Butterfly Network Inc. (NYSE:BFLY) is one of the best emerging technology stocks to buy right now. The company has created a handheld ultrasound device that connects to smartphones, powered by its semiconductor-based, patented ultrasound-on-a-chip technology.

This innovation makes medical imaging cheaper, easier to use, and accessible outside of big hospitals. With mass adoption possible in clinics and developing countries, Butterfly Network Inc. (NYSE:BFLY) could disrupt the way healthcare diagnostics are performed.

On September 8, TD Cowen analyst Josh Jennings reaffirmed a Buy rating on Butterfly Network Inc. (NYSE:BFLY) with a $3.50 price target, following the release of results from the POCUS-CARE trial.

TD Cowen Remains Bullish on Butterfly (BFLY), iQ3 Results Bolster Adoption Potential

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The study showed that Butterfly’s iQ3 handheld ultrasound device can materially reduce both lower hospital costs and shorten patient stays. Jennings believes that these outcomes support iQ3’s effectiveness and case for its wider adoption.

Jennings also commented on the stock’s nearly 30% decline since late July, attributing the weakness to near-term headwinds flagged on the Q2 2025 earnings call. He described these pressures as temporary and cyclical in nature, rather than lasting challenges, and argued that the pullback appears excessive when considered in light of Butterfly’s long-term fundamentals.

With new clinical evidence and a unique technology, Jennings maintains that Butterfly Network Inc. (NYSE:BFLY) is well-positioned to carry out its rollout strategy, justifying the Buy rating.

Butterfly Network Inc. (NYSE:BFLY) is a healthcare company that provides medical imaging solutions using its proprietary Ultrasound-on-Chip semiconductor technology and ultrasound software.

While we acknowledge the potential of BFLY to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BFLY and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.