Bentley Systems (NASDAQ:BSY) Receives Buy Rating from Rosenblatt Securities

Key Points

• Rosenblatt Securities reiterated its “buy” rating on Bentley Systems and set a $50 price target, implying approximately 42% upside from the stock’s $35.21 price.
• Analyst sentiment remains favorable overall, with nine Buy ratings, four Holds, and one Sell; MarketBeat reports a consensus rating of “Moderate Buy” and an average price target of $45.
• Bentley Systems exceeded quarterly EPS expectations, reporting $0.35 versus the $0.32 consensus estimate, while revenue rose 12.8% year over year to $410.73 million, slightly below forecasts.

Bentley Systems (NASDAQ:BSY - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Rosenblatt Securities in a research note issued to investors on Monday,Benzinga reports. They presently have a $50.00 price objective on the stock. Rosenblatt Securities' price target indicates a potential upside of 42.01% from the stock's current price.

Other equities research analysts have also issued reports about the stock. Bank of America began coverage on shares of Bentley Systems in a research note on Tuesday, May 12th. They set a "buy" rating and a $40.00 price target on the stock. Weiss Ratings lowered Bentley Systems from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, July 16th. Mizuho cut their target price on Bentley Systems from $50.00 to $45.00 and set an "outperform" rating on the stock in a research report on Friday, May 8th. BMO Capital Markets lifted their target price on Bentley Systems from $41.00 to $43.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Barclays reduced their target price on Bentley Systems from $49.00 to $40.00 and set an "equal weight" rating for the company in a report on Friday, May 29th. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bentley Systems presently has an average rating of "Moderate Buy" and a consensus price target of $45.00.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $35.21 on Monday. The firm has a market capitalization of $10.23 billion, a PE ratio of 38.69, a price-to-earnings-growth ratio of 2.26 and a beta of 0.98. The business's fifty day moving average price is $32.14 and its 200 day moving average price is $33.91. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Bentley Systems has a 12 month low of $28.08 and a 12 month high of $57.25.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. The business had revenue of $410.73 million during the quarter, compared to analysts' expectations of $412.12 million. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%.The business's quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 EPS. On average, sell-side analysts anticipate that Bentley Systems will post 1.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC purchased a new stake in shares of Bentley Systems in the fourth quarter valued at about $25,000. Geneos Wealth Management Inc. increased its position in Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company's stock valued at $26,000 after acquiring an additional 627 shares during the period. Physician Wealth Advisors Inc. increased its position in Bentley Systems by 80.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company's stock valued at $28,000 after acquiring an additional 352 shares during the period. CX Institutional raised its stake in Bentley Systems by 898.9% during the 2nd quarter. CX Institutional now owns 939 shares of the company's stock valued at $28,000 after acquiring an additional 845 shares during the last quarter. Finally, Harbor Investment Advisory LLC acquired a new stake in Bentley Systems during the 2nd quarter worth approximately $30,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Company Profile

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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