RBC Capital Upgrades Bentley Systems Inc. (BSY) to Outperform

RBC Capital analyst Matthew Hedberg upgraded Bentley Systems Inc. (NASDAQ: BSY) from Sector Perform to Outperform with a price target of $43.00.

The analyst comments "Following a strong quarter and a 17% pull-back in shares since mid-October, we are upgrading to Outperform on a more attractive risk/ reward. In their first quarter as a public company, both 9% ARR growth and profitability were better than expected as we view increased guidance as conservative. Net/Net we are bullish on the opportunity to own a LT durable grower that could benefit from a COVID vaccine and increased federal infrastructure spending."

For an analyst ratings summary and ratings history on Bentley Systems Inc. click here. For more ratings news on Bentley Systems Inc. click here.

Shares of Bentley Systems Inc. closed at $32.25 yesterday.

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