Bentley Systems (NASDAQ:BSY) Stock Gets Price Target Bump from Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised its price target on Bentley Systems from $42 to $55 and maintained an “overweight” rating, implying 22.4% upside from the prior close. Analysts overall rate the stock “Moderate Buy,” with a consensus target of $46.33.
• Bentley Systems beat quarterly earnings expectations, reporting $0.36 per share versus a $0.33 consensus, while revenue increased 12.2% year over year to $421.5 million. The company also raised its annual recurring revenue outlook.
• Director Raymond Bentley sold 344,203 shares for about $13.9 million under a pre-arranged trading plan; he retained more than 14.3 million shares after the sale.

Bentley Systems (NASDAQ:BSY - Get Free Report) had its price objective lifted by equities research analysts at Cantor Fitzgerald from $42.00 to $55.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Cantor Fitzgerald's target price indicates a potential upside of 22.39% from the company's previous close.

Other equities analysts have also issued reports about the company. Oppenheimer restated an "outperform" rating and set a $52.00 price target on shares of Bentley Systems in a research report on Friday. Piper Sandler reaffirmed an "overweight" rating and issued a $45.00 price target on shares of Bentley Systems in a research note on Friday, August 7th. BMO Capital Markets boosted their price objective on Bentley Systems from $41.00 to $43.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Weiss Ratings raised Bentley Systems from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, October 19th. Finally, Rosenblatt Securities raised their target price on shares of Bentley Systems from $50.00 to $53.00 and gave the stock a "buy" rating in a report on Friday. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $46.33.

Bentley Systems Trading Up 3.0%

Shares of BSY stock opened at $44.94 on Friday. The firm has a market cap of $13.06 billion, a P/E ratio of 49.38, a price-to-earnings-growth ratio of 2.72 and a beta of 0.98. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Bentley Systems has a 12-month low of $28.08 and a 12-month high of $48.38. The business has a 50-day moving average price of $35.47 and a two-hundred day moving average price of $34.48.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The company had revenue of $421.51 million for the quarter, compared to analysts' expectations of $420.69 million. Bentley Systems had a net margin of 18.10% and a return on equity of 28.43%. The firm's revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. Equities analysts anticipate that Bentley Systems will post 1.21 EPS for the current fiscal year.

Insider Activity

In other news, Director Raymond Bentley sold 344,203 shares of the firm's stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $40.24, for a total transaction of $13,850,728.72. Following the sale, the director owned 14,316,404 shares of the company's stock, valued at $576,092,096.96. This trade represents a 2.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 500,000 shares of company stock worth $20,089,565. Company insiders own 20.27% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSY. CX Institutional boosted its position in shares of Bentley Systems by 898.9% in the second quarter. CX Institutional now owns 939 shares of the company's stock worth $28,000 after purchasing an additional 845 shares during the period. Harbor Investment Advisory LLC bought a new stake in shares of Bentley Systems during the 2nd quarter valued at $30,000. Summit Securities Group LLC bought a new stake in shares of Bentley Systems during the 1st quarter valued at $34,000. Parallel Advisors LLC lifted its stake in shares of Bentley Systems by 49.5% during the 1st quarter. Parallel Advisors LLC now owns 2,445 shares of the company's stock valued at $86,000 after buying an additional 810 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Bentley Systems by 8.8% during the 3rd quarter. GAMMA Investing LLC now owns 4,528 shares of the company's stock valued at $145,000 after buying an additional 366 shares in the last quarter. Institutional investors own 44.16% of the company's stock.

Key Headlines Impacting Bentley Systems

Here are the key news stories impacting Bentley Systems this week:

• Positive Sentiment: Q3 adjusted earnings were $0.36 per share, above consensus estimates of $0.33–$0.34 and up from $0.27 a year earlier. Revenue rose 12.2% year over year to $421.5 million, narrowly exceeding the roughly $420.7 million estimate. Article: Bentley Systems Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: The company raised its annual recurring revenue outlook, signaling improved confidence in recurring growth and offering investors a favorable forward-looking takeaway alongside the quarterly beat. Article: Bentley Systems reports revenue growth and raises ARR outlook
• Neutral Sentiment: Revenue was only marginally ahead of analyst expectations, so the results’ upside appears more pronounced in earnings and the raised outlook than in sales growth. Article: Bentley Systems posts Q3 sales in line with estimates
• Negative Sentiment: An insider, Raymond Bentley, reportedly sold 344,203 shares. Such a sale can weigh on sentiment, although the report alone does not establish the seller’s reason or whether it reflects a view on the company’s outlook. Article: Insider Raymond Bentley sells shares

Bentley Systems Company Profile

Bentley Systems, Incorporated is a software company that develops solutions for the design, construction, and operation of infrastructure. Its customers include engineers, architects, geospatial professionals, construction firms, and infrastructure owner-operators in sectors such as transportation, water, utilities, industrial facilities, and buildings.

The company's product portfolio includes MicroStation for infrastructure design, ProjectWise for project collaboration, AssetWise for asset performance and operations, and SYNCHRO for construction management.

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