Barclays Issues Positive Forecast for Bentley Systems (NASDAQ:BSY) Stock Price

Key Points

• Barclays raised its price target on Bentley Systems from $47 to $49 and kept an "equal weight" rating, implying roughly a 24.5% upside from the current share price.
• The analyst landscape is mixed: the consensus rating is "Hold" with a $48.50 average target, composed of 7 Buys, 5 Holds and 1 Sell.
• Bentley beat revenue expectations ($391.6M vs. $381.8M) and met EPS estimates ($0.27); the stock trades near $39.35 with a P/E of 45.8 and a 52‑week range of $30.97–$59.25.

Bentley Systems (NASDAQ:BSY - Get Free Report) had its price objective hoisted by stock analysts at Barclays from $47.00 to $49.00 in a research note issued on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price objective suggests a potential upside of 24.52% from the stock's current price.

A number of other analysts have also issued reports on BSY. BMO Capital Markets reaffirmed an "outperform" rating on shares of Bentley Systems in a research note on Monday. JPMorgan Chase & Co. dropped their target price on shares of Bentley Systems from $56.00 to $51.00 and set a "neutral" rating for the company in a report on Thursday, November 6th. UBS Group cut their price objective on shares of Bentley Systems from $60.00 to $40.00 and set a "neutral" rating for the company in a report on Monday, February 23rd. Rosenblatt Securities cut their price target on Bentley Systems from $58.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, February 24th. Finally, Robert W. Baird set a $55.00 target price on Bentley Systems in a report on Wednesday, January 7th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Bentley Systems presently has a consensus rating of "Hold" and a consensus target price of $48.50.

Bentley Systems Stock Performance

NASDAQ BSY traded down $0.16 during trading hours on Friday, reaching $39.35. The stock had a trading volume of 181,885 shares, compared to its average volume of 3,311,038. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a fifty day moving average of $36.66 and a 200 day moving average of $44.34. Bentley Systems has a 52-week low of $30.97 and a 52-week high of $59.25. The stock has a market cap of $11.47 billion, a P/E ratio of 45.76, a price-to-earnings-growth ratio of 2.79 and a beta of 1.18.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $391.58 million for the quarter, compared to analyst estimates of $381.79 million. Bentley Systems had a net margin of 18.50% and a return on equity of 28.82%. The firm's revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 earnings per share. Sell-side analysts predict that Bentley Systems will post 0.88 earnings per share for the current year.

Institutional Investors Weigh In On Bentley Systems

Institutional investors have recently made changes to their positions in the stock. AGF Management Ltd. grew its stake in shares of Bentley Systems by 64.2% in the third quarter. AGF Management Ltd. now owns 180,633 shares of the company's stock valued at $9,299,000 after buying an additional 70,650 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Bentley Systems during the 3rd quarter worth about $122,028,000. Rakuten Investment Management Inc. purchased a new position in Bentley Systems during the 3rd quarter valued at about $4,305,000. Pacer Advisors Inc. grew its position in Bentley Systems by 90.8% in the 3rd quarter. Pacer Advisors Inc. now owns 676,740 shares of the company's stock valued at $34,839,000 after acquiring an additional 322,012 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Bentley Systems by 5.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 954,867 shares of the company's stock valued at $49,157,000 after acquiring an additional 51,883 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

About Bentley Systems

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.

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