KeyBanc raised the firm’s price target on Bentley Systems (BSY) to $56 from $54 and keeps an Overweight rating on the shares. The firm notes Bentley posted better Q1 c.c. ARR growth of 12%, consistent with the prior quarter’s 12% and above the Street’s 10.8%, and reiterated its 2025 c.c. ARR growth guidance of 10.5%-12.5%. KeyBanc remains encouraged by Bentley’s positive commentary on infrastructure strength.
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Read More on BSY:
- Balanced Outlook: Bentley Systems’ Strong Growth vs. Valuation Concerns
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- Bentley Systems: Strong Financial Performance and Market Conditions Justify Buy Rating
- Bentley Systems reports Q1 adjusted EPS 35c, consensus 30c
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