
Bentley Systems (BSY) Stock Forecast & Price Target
Bentley Systems (BSY) Analyst Ratings
Bulls say
Bentley Systems demonstrated robust financial performance in Q3, reporting subscription revenue of $344.3 million, reflecting a 14% year-over-year increase and underscoring steady global infrastructure project activity. The company achieved an annual recurring revenue (ARR) of $1,405 million, experiencing a 10.5% year-over-year growth in constant currency, fueled by strong demand in the public works and utilities sector and increased adoption of their E365 subscription program. Furthermore, Bentley's revenue growth of 12% to $375.5 million, along with improved EBITDA margins of 27.7%, highlights its operational efficiency and positive momentum in a favorable market environment.
Bears say
Bentley Systems is facing challenges, highlighted by flat services revenue quarter-over-quarter, which came in $5 million below prior guidance, indicating potential stagnation in this critical segment. Additionally, the company's reliance on the public works and utilities sector, which constitutes approximately two-thirds of its revenue, raises concerns about overall market vulnerability amid ongoing headwinds related to IBM Maximo work. Despite reporting higher total revenue of $375.5 million, the underperformance in perpetual licenses and the reduction in services revenue forecast reflect a cautious outlook, warranting scrutiny of growth potential as the company transitions toward 2026.
This aggregate rating is based on analysts' research of Bentley Systems and is not a guaranteed prediction by Public.com or investment advice.
Bentley Systems (BSY) Analyst Forecast & Price Prediction
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