Cantor Fitzgerald Forecasts Strong Price Appreciation for Bentley Systems (NASDAQ:BSY) Stock

Bentley Systems (NASDAQ:BSY) had its price objective boosted by stock analysts at Cantor Fitzgerald from $37.00 to $42.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 15.93% from the stock’s current price.

A number of other research firms have also recently commented on BSY. Weiss Ratings upgraded Bentley Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 2nd. BNP Paribas Exane began coverage on Bentley Systems in a report on Thursday, June 18th. They issued an “outperform” rating and a $40.00 target price on the stock. Piper Sandler reissued an “overweight” rating and issued a $45.00 target price on shares of Bentley Systems in a research report on Friday, August 7th. Rosenblatt Securities restated a “buy” rating and set a $50.00 price target on shares of Bentley Systems in a research note on Monday, August 10th. Finally, BMO Capital Markets boosted their price target on Bentley Systems from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Bentley Systems has a consensus rating of “Moderate Buy” and a consensus price target of $44.77.

Bentley Systems Trading Up 3.2%

Shares of BSY stock opened at $36.23 on Friday. Bentley Systems has a 12-month low of $28.08 and a 12-month high of $52.85. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm’s 50 day moving average is $34.26 and its 200 day moving average is $33.24. The stock has a market capitalization of $10.53 billion, a P/E ratio of 39.81, a P/E/G ratio of 2.19 and a beta of 0.99.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, August 6th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $410.73 million during the quarter, compared to analyst estimates of $412.12 million. Bentley Systems had a net margin of 18.10% and a return on equity of 28.43%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS. Research analysts expect that Bentley Systems will post 1.21 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP bought a new position in Bentley Systems in the 2nd quarter worth $6,975,000. Groupe la Francaise lifted its position in Bentley Systems by 46.1% during the second quarter. Groupe la Francaise now owns 159,678 shares of the company’s stock valued at $4,776,000 after purchasing an additional 50,412 shares in the last quarter. SummitTX Capital L.P. lifted its position in Bentley Systems by 74.9% during the first quarter. SummitTX Capital L.P. now owns 104,520 shares of the company’s stock valued at $3,671,000 after purchasing an additional 44,774 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Bentley Systems during the second quarter valued at about $78,738,000. Finally, Whetstone Capital Advisors LLC bought a new stake in Bentley Systems during the second quarter valued at about $2,935,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

About Bentley Systems

Bentley Systems, Incorporated (NASDAQ: BSY) develops software for the design, construction, and operation of infrastructure. Its solutions support organizations involved in transportation, water and wastewater, utilities, buildings, industrial facilities, mining, and other infrastructure sectors.

The company’s product portfolio includes engineering and design applications such as MicroStation, OpenRoads, OpenBuildings, and OpenPlant, as well as ProjectWise for project collaboration and AssetWise for asset performance and operations.