Bentley Systems price target lowered to $42 from $45 at Piper Sandler

Piper Sandler lowered the firm’s price target on Bentley Systems (BSY) to $42 from $45 and keeps a Neutral rating on the shares. Despite the firm’s fears otherwise, Bentley initiated FY26 guidance with 10.5%-12.5% ARR growth, with only 40bps of contribution from programmatic acquisitions in 2025 Additionally, after nearly eight quarters of difficult results in services, services is expected to rebound nicely by 15%-20% growth in 2026, Piper adds.