A high-quality infrastructure-software franchise with a wide economic moat, 148% free cash flow conversion, and rising earnings estimates is caught in a confirmed technical downtrend following a death cross — the quality and fundamental case is compelling at 29.4% upside to the analyst target, but entry is premature until momentum conditions clear. Geographic concentration of 59% outside the U.S. adds a risk layer that the fundamentals alone cannot fully offset.
Thesis pillars
- Geographic Concentration Risk↑Improving
- High Quality Cash Compounding→Stable
- Momentum Confirmed Downtrend→Stable
- +1 more pillar — see the Why tab for full reasoning
Bentley Systems, Incorporated (BSY) Stock Analysis
Range Bound setup · Catalyst-Driven edge
Technology · Software - Application
Hold if already holding. Not a fresh buy at $31.36, but acceptable to hold if already in. Reasons: Concentration risk — Geographic: outside U.S. (59.0%); Below 200-MA, MA slope -8.3%/30d (confirmed downtrend).
Bentley Systems develops infrastructure engineering software across public works/utilities, resources, industrial, and commercial sectors, serving nearly 42,000 accounts in 189 countries. Revenue flows primarily from E365 consumption subscriptions and SELECT perpetual licenses,... Read more
Hold if already holding. Not a fresh buy at $31.36, but acceptable to hold if already in. Reasons: Concentration risk — Geographic: outside U.S. (59.0%); Below 200-MA, MA slope -8.3%/30d (confirmed downtrend). Chart setup: RSI 43 mid-range, Bollinger mid-band. Maintain position. Not compelling to add more. Score 5.8/10, moderate confidence.
Passes 7/10 gates (positive momentum, favorable risk/reward ratio, clean insider activity, no SEC red flags, news events none recent, semi cycle peak clear, materials cycle peak clear). Fails on death cross (50MA < 200MA). Suitability: speculative.
Recent developments
updated 2026-07-26Recent Developments — Bentley Systems, Incorporated
Latest news
- NEWS Bentley Systems (BSY) Achieves FedRAMP Authorization for Cloud S - GuruFocus — GuruFocus positive
- NEWS Teachers Retirement System of The State of Kentucky Makes New $1.72 Million Investment in Bentley Systems, Incorporated — MarketBeat positive
- NEWS What shapes market opinion on Bentley (BSY) stock | Bentley posts 2.5% EPS beat on strong core demand - Earnings Growth — newsline.com positive
- NEWS Bentley Systems Inc (BSY) Shares Fall 4.3% -- What GF Score of 8 - GuruFocus — GuruFocus negative
- NEWS Bentley Systems Inc (BSY) Shares Fall 4.3% -- What GF Score of 80 Tells Investors - GuruFocus — GuruFocus negative
Generated 2026-07-26T08:56:58Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHGeographicoutside U.S.59%10-K Item 1A: 'Approximately 59%, 58%, and 58% of our total revenues were from outside the U.S. for the years ended December 31, 2025, 2024, and 2023, respectively.'
- LOWGeographicAPAC including China18%10-K Item 1A: 'Approximately 18% of our total revenues for the years ended December 31, 2025, 2024, and 2023 relate to infrastructure projects in APAC, including China.'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
1 floor-breaker
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $31.36, but acceptable to hold if already in. Reasons: Concentration risk — Geographic: outside U.S. (59.0%); Below 200-MA, MA slope -8.3%/30d (confirmed downtrend). Chart setup: RSI 43 mid-range, Bollinger mid-band. Maintain position. Not compelling to add more. Target $40.32 (+28.6%), stop $29.20 (−7.4%), A.R:R 3.2:1. Score 5.8/10, moderate confidence.
Take-profit target: $40.32 (+28.4% upside). Target $40.32 (+28.6%), stop $29.20 (−7.4%), A.R:R 3.2:1. Stop-loss: $29.20.
Concentration risk — Geographic: outside U.S. (59.0%); Below 200-MA, MA slope -8.3%/30d (confirmed downtrend).
Bentley Systems, Incorporated trades at a P/E of 34.5 (forward 19.8). TrendMatrix value score: 5.5/10. Verdict: Hold.
21 analysts cover BSY with a consensus score of 4.0/5. Average price target: $45.
What does Bentley Systems, Incorporated do?Bentley Systems develops infrastructure engineering software across public works/utilities, resources, industrial, and...
Bentley Systems develops infrastructure engineering software across public works/utilities, resources, industrial, and commercial sectors, serving nearly 42,000 accounts in 189 countries. Revenue flows primarily from E365 consumption subscriptions and SELECT perpetual licenses, with direct sales generating approximately 94% of 2025 revenues.