Bentley Systems (NASDAQ:BSY) Stock Rating Upgraded by Rosenblatt Securities

Key Points

• Bentley Systems has received an upgrade from Rosenblatt Securities, moving from a "neutral" rating to a "buy" rating, with a target price of $58.00, indicating a potential upside of 15.33% from its previous close.
• Currently, the stock has a consensus rating of "Moderate Buy" based on evaluations from multiple analysts, with seven rating it as a buy and four as hold.
• Recent quarterly earnings showed Bentley Systems reported $0.32 EPS, exceeding analyst expectations and demonstrating a year-over-year revenue increase of 10.2% to $364.11 million.

Bentley Systems (NASDAQ:BSY - Get Free Report) was upgraded by research analysts at Rosenblatt Securities from a "neutral" rating to a "buy" rating in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a $58.00 target price on the stock. Rosenblatt Securities' price objective would suggest a potential upside of 15.33% from the stock's previous close.

BSY has been the subject of a number of other research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Bentley Systems in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Bentley Systems from a "buy" rating to a "hold" rating in a report on Wednesday, July 16th. KeyCorp upped their price target on shares of Bentley Systems from $56.00 to $59.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Oppenheimer upped their price target on shares of Bentley Systems from $59.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, The Goldman Sachs Group upped their price target on shares of Bentley Systems from $42.00 to $47.00 and gave the company a "sell" rating in a report on Thursday, August 7th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Bentley Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.64.

Bentley Systems Stock Down 0.8%

Bentley Systems stock opened at $50.29 on Friday. The company has a 50-day simple moving average of $53.02 and a 200-day simple moving average of $50.60. The firm has a market capitalization of $14.69 billion, a P/E ratio of 63.66, a P/E/G ratio of 4.09 and a beta of 1.07. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51. Bentley Systems has a one year low of $36.51 and a one year high of $59.25.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. The business had revenue of $364.11 million during the quarter, compared to analyst estimates of $363.51 million. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The company's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.31 earnings per share. As a group, equities analysts expect that Bentley Systems will post 0.88 earnings per share for the current year.

Hedge Funds Weigh In On Bentley Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trium Capital LLP grew its holdings in Bentley Systems by 88.3% during the third quarter. Trium Capital LLP now owns 9,665 shares of the company's stock valued at $498,000 after purchasing an additional 4,532 shares during the last quarter. CWM LLC lifted its position in Bentley Systems by 38.9% in the third quarter. CWM LLC now owns 63,619 shares of the company's stock worth $3,275,000 after purchasing an additional 17,826 shares during the period. Pacer Advisors Inc. lifted its position in Bentley Systems by 90.8% in the third quarter. Pacer Advisors Inc. now owns 676,740 shares of the company's stock worth $34,839,000 after purchasing an additional 322,012 shares during the period. Inspire Investing LLC bought a new position in shares of Bentley Systems during the third quarter valued at $1,983,000. Finally, Norden Group LLC raised its holdings in shares of Bentley Systems by 34.3% in the third quarter. Norden Group LLC now owns 7,080 shares of the company's stock valued at $364,000 after buying an additional 1,810 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company's stock.

Bentley Systems Company Profile

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.

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