Cantor Fitzgerald Starts Bentley Systems Inc. (BSY) at Overweight

Cantor Fitzgerald analyst Mason Marion initiates coverage on Bentley Systems Inc. (NASDAQ: BSY) with a Overweight rating and a price target of $37.00.

The analyst comments: “BSY is a global provider of infrastructure engineering software used by professionals to design, build, and operate large assets like roadways, bridges, and power grids. This is a high-quality business, as evidenced by its consistently strong gross and net retention rates of ~99% and ~110%, respectively. The mission-critical nature of its solutions and switching costs grant BSY pricing power (several pts per year), and its extensive portfolio generates ample cross-selling opportunities into its base (another few pts). BSY is poised to benefit from several macro upcycles and is expanding down-market, providing durable drivers to power double-digit growth for the foreseeable future while generating excellent (and expanding) operating and FCF margins.”

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 $30.97 yesterday.

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