William Blair analyst Dylan Becker has maintained their bullish stance on BSY stock, giving a Buy rating yesterday.
Dylan Becker has given his Buy rating due to a combination of factors that highlight Bentley Systems’ strong financial performance and promising future outlook. The company has demonstrated impressive growth in its subscription revenue and annual recurring revenue (ARR), with a notable increase in constant currency terms. This growth is supported by a robust demand for infrastructure projects globally, driven by increasing civil backlogs and a positive long-term outlook.
Furthermore, Bentley Systems is well-positioned to capitalize on the widening gap in engineering capacity, which emphasizes the need for productivity-enhancing tools. The company’s projections for 2025 suggest sustained double-digit ARR growth and consistent margin improvements, reinforcing its ability to compound financial success over time. The focus on infrastructure investment and the engineering capacity gap is expected to provide a stable foundation for continued growth in ARR and free cash flow, justifying the Buy rating.
In another report released yesterday, Rosenblatt Securities also maintained a Buy rating on the stock with a $62.00 price target.