Bentley Systems

Fiscal Constraints And Open-Source Competition Will Erode Margins

AN

AnalystLowTarget

Not Invested

Community Contributor

Published

03 Aug 25

Updated

03 Feb 26

Views

62

03 Feb

US$32.74

AnalystLowTarget's Fair Value

US$42.00

22.0% undervalued

1Y

-32.3%

7D

-0.8%

Loading

1Y

-32.3%

7D

-0.8%

You can edit this narrative until Feb 4 3:10 AM. Then, changes will post as Updates.

Author's Valuation

US$4222.0% undervalued

AnalystLowTarget Fair Value

Shared on 03 Feb 26

BSY: Agentic AI And Buybacks Will Support Returns Despite Softer Outlook

Narrative Update The analyst price target for Bentley Systems has been reduced by $12, as analysts factor in softer long term growth assumptions, more measured profitability expectations compared with peers, and a series of recent target cuts following updated models across the coverage universe. Analyst Commentary Recent research updates on Bentley Systems point to a more cautious tone, with several bearish analysts trimming price targets and, in at least one case, downgrading the rating as they reassess growth and profitability assumptions for the next few years.

5 views

Shared on 20 Jan 26

Fair value Decreased 8.92%

BSY: Agentic AI And Buybacks Will Offset Softer Outlook Through 2026

Analysts have trimmed their fair value estimate for Bentley Systems from US$46.12 to US$42.00, reflecting a broader reset in price targets as they consider softer organic ARR outlook, more moderate profitability expectations, and updated sector views for 2026. Analyst Commentary Recent Street research on Bentley Systems has tilted more cautious, with several bearish analysts cutting price targets and, in one case, moving to a more neutral stance on the stock.

3 views

Shared on 05 Jan 26

BSY: Agentic AI And Buybacks Will Support Future Upside Potential

Narrative Update The analyst price target for Bentley Systems has shifted modestly lower to reflect a mixed set of recent views, with some firms trimming targets into the low US$50s and others setting objectives in the high US$50s as they weigh solid Q3 results against limited share price appreciation potential, as well as interest in agentic AI initiatives. Analyst Commentary Recent research on Bentley Systems reflects a split view, with some firms highlighting solid Q3 results and interest in agentic AI initiatives, while others are more reserved on valuation and upside from current levels.

19 views

Shared on 22 Dec 25

Fair value Increased 9.80%

BSY: Agentic AI Expansion Will Support Upside Despite Recent Caution

The analyst’s fair value estimate for Bentley Systems has been raised by about $4 to approximately $46 per share, as analysts balance slightly softer growth and margin assumptions against continued solid quarterly results and growing enthusiasm for the company’s AI driven infrastructure software opportunity. Analyst Commentary Recent Street research highlights a more mixed sentiment backdrop, with some incremental caution emerging around valuation and the balance of risk and reward at current levels.

4 views

Valuator

Company Info

Notes

AnalystLowTarget Fair Value

US$42

22.0% undervalued

Future estimation in

Revenue

Profit Margin

Future PE

Growth p.a.

%

Decrease

Increase

Forecast revenue growth rate

9.86%

Historical revenue growth rate

11.27%

Software revenue growth rate

1.55%

Risk Level (Discount Rate)

Our default considers factors like the company's size, volatility, profitablity and country of operation.

%

0

Decrease

Increase

Current discount rate

8.78%

Calculation

US$449.30m

Earnings '29

x

37.23x

PE Ratio '29

=

US$16.73b

Market Cap '29

US$16.73b

Market Cap '29

/

310.08m

No. shares '29

=

US$53.94

Share Price '29

US$53.94 Share Price '29

Discounted to 2026 @ 8.71% p.a.

=

US$41.99

Fair Value '26