Bentley Systems Seen as Tactical Defensive Play Amid Uncertain Software Demand Backdrop, UBS Says

MT Newswires Live
04-01

Bentley Systems (BSY) is seen as a tactical defensive play in the near term due to its higher exposure to civil and infrastructure spending, which is more stable and resilient than commercial spend, UBS Securities said in a note as it initiated coverage with a neutral rating and a $48 price target.

The firm noted that the broader uncertainty in the software demand environment could challenge revenue growth, making Bentley's position more defensive at this time.

UBS also highlighted Bentley's "emerging" artificial intelligence opportunity, pricing power, and diverse growth drivers as factors that support its sustainable low-teens annual recurring revenue growth outlook.

However, UBS cautioned that while it sees some positive factors, it has difficulty justifying meaningful upside for the stock, which would require acceleration in revenue and ARR growth. The firm also pointed out that Bentley isn't fully immune to risks from policy changes, and growth catalysts from new AI-related products are still in the early stages.

The company's shares were down 2.4% in recent Monday trading.

Price: 38.75, Change: -0.96, Percent Change: -2.41

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

熱議股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10