Bentley Systems Inc. (BSY) PT Lowered to $50 at Rosenblatt

Rosenblatt analyst Blair Abernethy lowered the price target on Bentley Systems Inc. (NASDAQ: BSY) to $50.00 (from $58.00) while maintaining a Buy rating.

The analyst comments "We expect Bentley to report an in-line Q4/FY25 results (ending Dec 31st) on February 26th, 2026, before market open, with 8% Subscription Revenue growth (and 11% growth for FY25) driven by engineering tool demand in the healthy US infrastructure market. We view rapidly evolving AI technology as a positive tailwind in the civil engineering software tools market as Bentley adds new AI-driven features that can significantly enhance engineer productivity and drive more value from its digital twin platform. We also expect Bentley’s Q4 to benefit from upsell of the comprehensive E365 subscription program, and continued strong Virtuosity customer adds. We are leaving our estimates unchanged for FY25-27 as we believe the demand profile and competitive environment for infrastructure tools have remained stable. Despite what we expect as a solid Q4 print, with the ongoing weakness in software stocks and Bentley’s comparable company’s multiple compression, we are taking this opportunity to trim our 12-month target price to $50 (was $58), but remain a Buy at current levels."

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