Bentley Systems, Incorporated (NASDAQ:BSY) shareholders are probably feeling a little disappointed, since its shares fell 3.7% to US$43.90 in the week after its latest annual results. It was a credible result overall, with revenues of US$1.4b and statutory earnings per share of US$0.72 both in line with analyst estimates, showing that Bentley Systems is executing in line with expectations. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.

Check out our latest analysis for Bentley Systems

Taking into account the latest results, the current consensus from Bentley Systems' 15 analysts is for revenues of US$1.48b in 2025. This would reflect a meaningful 9.4% increase on its revenue over the past 12 months. Statutory earnings per share are predicted to leap 25% to US$0.93. In the lead-up to this report, the analysts had been modelling revenues of US$1.50b and earnings per share (EPS) of US$0.91 in 2025. So the consensus seems to have become somewhat more optimistic on Bentley Systems' earnings potential following these results.

There's been no major changes to the consensus price target of US$55.54, suggesting that the improved earnings per share outlook is not enough to have a long-term positive impact on the stock's valuation. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. The most optimistic Bentley Systems analyst has a price target of US$63.00 per share, while the most pessimistic values it at US$42.00. There are definitely some different views on the stock, but the range of estimates is not wide enough as to imply that the situation is unforecastable, in our view.

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 would highlight that Bentley Systems' revenue growth is expected to slow, with the forecast 9.4% annualised growth rate until the end of 2025 being well below the historical 13% p.a. growth over the last five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 12% per year. Factoring in the forecast slowdown in growth, it seems obvious that Bentley Systems is also expected to grow slower than other industry participants.

The Bottom Line

The biggest takeaway for us is the consensus earnings per share upgrade, which suggests a clear improvement in sentiment around Bentley Systems' earnings potential next year. Fortunately, the analysts also reconfirmed their revenue estimates, suggesting that it's tracking in line with expectations. Although our data does suggest that Bentley Systems' revenue is expected to perform worse than 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.

With that in mind, we wouldn't be too quick to come to a conclusion on Bentley Systems. Long-term earnings power is much more important than next year's profits. We have forecasts for Bentley Systems going out to 2027, and you can see them free on our platform here.

You should always think about risks though. Case in point, we've spotted 2 warning signs for Bentley Systems you should be aware of.

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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.