Bentley (BSY) Reports Earnings Tomorrow. What To Expect
Infrastructure design software provider Bentley Systems (NASDAQ:BSY) will be announcing earnings results tomorrow before the bell. Here's what to look for.
Last quarter Bentley reported revenues of $314.4 million, up 14.1% year on year, beating analyst revenue expectations by 5.28%. It was a strong quarter for the company, with a solid beat of analysts' revenue estimates.
Is Bentley buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Bentley's revenue to grow 10% year on year to $295.2 million, slowing down from the 19.8% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.19 per share.
The analysts covering the company have been growing increasingly bullish about the business heading into the earnings, with revenue estimates seeing two upwards revisions over the last thirty days. The company missed Wall St's revenue estimates twice over the last two years.
With Bentley being the first among its peers to report earnings this season, we don't have anywhere else to look at to get a hint at how this quarter will unravel for software as a service stocks, but there has been positive sentiment among investors in the segment, with the stocks up on average 2.7% over the last month. Bentley is down 1.64% during the same time, and is heading into the earnings with analyst price target of $55.0, compared to share price of $51.6.
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The author has no position in any of the stocks mentioned.
