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

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

Several other equities research analysts have also recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of 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 upgraded shares of Bentley Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 2nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $50.00 target price on shares of Bentley Systems in a research note on Monday, August 10th. BNP Paribas Exane started coverage on shares of Bentley Systems in a research note on Thursday, June 18th. They set an “outperform” rating and a $40.00 target price for the company. Finally, Piper Sandler reiterated an “overweight” rating and issued a $45.00 price target on shares of Bentley Systems in a report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.77.

Bentley Systems Trading Up 3.2%

Bentley Systems 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 firm has a market capitalization of $10.53 billion, a price-to-earnings ratio of 39.81, a P/E/G ratio of 2.19 and a beta of 0.99. The firm has a 50 day moving average of $34.26 and a 200 day moving average of $33.24. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. Bentley Systems had a net margin of 18.10% and a return on equity of 28.43%. The business had revenue of $410.73 million for the quarter, compared to the consensus estimate of $412.12 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, research analysts predict that Bentley Systems will post 1.21 earnings per share for the current year.

Hedge Funds Weigh In On Bentley Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. grew its holdings in Bentley Systems by 80.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock valued at $28,000 after buying an additional 352 shares in the last quarter. CX Institutional increased its stake in Bentley Systems by 898.9% in the 2nd quarter. CX Institutional now owns 939 shares of the company’s stock worth $28,000 after acquiring an additional 845 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in Bentley Systems in the 2nd quarter worth approximately $30,000. Summit Securities Group LLC purchased a new stake in shares of Bentley Systems during the 1st quarter worth approximately $34,000. Finally, Parallel Advisors LLC raised its holdings 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 worth $86,000 after acquiring an additional 810 shares in the last quarter. 44.16% of the stock is owned by institutional investors.

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.