Mizuho Securities analyst James Lee has maintained their bullish stance on BSY stock, giving a Buy rating yesterday.
James Lee has given his Buy rating due to a combination of factors including Bentley Systems’ positive outlook despite some mixed results in recent quarters. The company’s revenue was largely in line with expectations, and while earnings per share fell slightly short, there are promising trends in areas like E365. Additionally, management’s guidance for annual recurring revenue growth aligns with current business trends, and the company is expected to benefit significantly from the Infrastructure Investment and Jobs Act (IIJA) spending.
Furthermore, Bentley Systems is leveraging artificial intelligence across its product offerings, which is seen as a transformative opportunity for infrastructure engineering. The company’s focus on AI and cloud business expansion is expected to drive long-term growth. Despite challenges in China, which represents a small portion of their total ARR, the overall demand environment remains strong across various sectors and geographies, supporting the positive outlook for Bentley Systems.
According to TipRanks, Lee is a 5-star analyst with an average return of 15.1% and a 62.53% success rate. Lee covers the Consumer Cyclical sector, focusing on stocks such as Amazon, Booking Holdings, and Airbnb.
In another report released yesterday, Rosenblatt Securities also maintained a Buy rating on the stock with a $62.00 price target.