Stock Story -
Infrastructure design software provider Bentley Systems (NASDAQ:BSY) will be reporting results tomorrow before market hours. Here's what investors should know.
Bentley met analysts' revenue expectations last quarter, reporting revenues of $337.8 million, up 7.4% year on year. It was a weak quarter for the company, with a miss of analysts' billings estimates.
Is Bentley a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Bentley's revenue to grow 9.5% year on year to $325.1 million, slowing from the 10.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.23 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Bentley has missed Wall Street's revenue estimates four times over the last two years.
Looking at Bentley'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 (NASDAQ:MANH) delivered year-on-year revenue growth of 14.8%, beating analysts' expectations by 3.5%, and Pegasystems (NASDAQ:PEGA) reported revenues up 17.7%, topping estimates by 8.1%. Manhattan Associates traded up 10.5% following the results while Pegasystems was also up 12.7%.
Read the full analysis of Manhattan Associates's and Pegasystems's results on StockStory.
Growth stocks have been quite volatile since the start of 2024, and while some of the software as a service stocks have fared somewhat better, they have not been spared, with share prices down 3.7% on average over the last month. Bentley is down 6.6% during the same time and is heading into earnings with an average analyst price target of $60.2 (compared to the current share price of $46.1).
![Bentley (BSY) Q2 Earnings Report Preview: What To Look For](https://d68-invdn-com.investing.com/content/picb2215cd1ed2b7471898689b5cba25384.jpeg)