RBC Capital analyst Matthew Hedberg maintained a Buy rating on Bentley Systems (BSY – Research Report) on May 18 and set a price target of $46.00. The company’s shares closed last Thursday at $32.29, close to its 52-week low of $26.32.
According to TipRanks.com, Hedberg ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -8.4% and a 30.7% success rate. Hedberg covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Ping Identity Holding, and DoubleVerify Holdings.
Bentley Systems has an analyst consensus of Strong Buy, with a price target consensus of $48.25, a 57.7% upside from current levels. In a report released yesterday, Oppenheimer also initiated coverage with a Buy rating on the stock with a $40.00 price target.
Based on Bentley Systems’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $272 million and net profit of $41.4 million. In comparison, last year the company earned revenue of $222 million and had a net profit of $57.01 million.
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Bentley Systems Inc is a provider of software solutions to engineers, architects, geospatial professionals, constructors, and owner-operators for the design, construction, and operations of infrastructure. The software enables digital workflows across engineering disciplines, distributed project teams, from offices to the field, and across computing form factors, including desktops, on-premises servers, cloud-native services, mobile devices, and web browsers. The solutions are delivered via on-premise, cloud, and hybrid environments.
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