Infrastructure engineering software company Bentley Systems (NASDAQ: BSY) will be reporting results tomorrow morning. Here’s what to expect.
Bentley Systems beat analysts’ revenue expectations last quarter, reporting revenues of $424.2 million, up 14.5% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates but a significant miss of analysts’ billings estimates.
Is Bentley Systems a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Bentley Systems’s revenue to grow 13% year on year, improving from the 10.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Bentley Systems has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Bentley Systems’s peers in the software-as-a-service segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Manhattan Associates delivered year-on-year revenue growth of 9.3%, beating analysts’ expectations by 3.5%, and Palantir Technologies reported revenues up 92.8%, topping estimates by 6.7%. Manhattan Associates traded up 21.3% following the results while Palantir Technologies was also up 28.8%.
Read our full analysis of Manhattan Associates’s results here and Palantir Technologies’s results here.
There has been positive sentiment among investors in the software-as-a-service segment, with share prices up 9.4% on average over the last month. Bentley Systems is up 9.5% during the same time and is heading into earnings with an average analyst price target of $44.80 (compared to the current share price of $35.50).
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