Bentley Systems, Incorporated Just Recorded A 78% EPS Beat: Here's What Analysts Are Forecasting Next

Last week saw the newest full-year earnings release from Bentley Systems, Incorporated (NASDAQ:BSY), an important milestone in the company's journey to build a stronger business. It looks like a credible result overall - although revenues of US$1.2b were what the analysts expected, Bentley Systems surprised by delivering a (statutory) profit of US$1.00 per share, an impressive 78% above what was forecast. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.

View our latest analysis for Bentley Systems

Taking into account the latest results, the most recent consensus for Bentley Systems from 13 analysts is for revenues of US$1.37b in 2024. If met, it would imply a notable 11% increase on its revenue over the past 12 months. Statutory earnings per share are forecast to dive 32% to US$0.71 in the same period. In the lead-up to this report, the analysts had been modelling revenues of US$1.37b and earnings per share (EPS) of US$0.71 in 2024. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

It will come as no surprise then, to learn that the consensus price target is largely unchanged at US$58.24. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. There are some variant perceptions on Bentley Systems, with the most bullish analyst valuing it at US$64.00 and the most bearish at US$42.00 per share. This shows there is still a bit of diversity in estimates, but analysts don't appear to be totally split on the stock as though it might be a success or failure situation.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. We can infer from the latest estimates that forecasts expect a continuation of Bentley Systems'historical trends, as the 11% annualised revenue growth to the end of 2024 is roughly in line with the 13% annual growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 12% annually. So although Bentley Systems is expected to maintain its revenue growth rate, it's only growing at about the rate of the wider industry.

The Bottom Line

The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. They also reconfirmed their revenue estimates, with the company predicted to grow at about the same rate as the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. At Simply Wall St, we have a full range of analyst estimates for Bentley Systems going out to 2026, and you can see them free on our platform here..

Before you take the next step you should know about the 1 warning sign for Bentley Systems that we have uncovered.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.