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Bentley Systems, Incorporated (BSY) Stock Jumps 5.1%: Will It Continue to Soar?

Zacks Equity Research
·2 min read

Bentley Systems, Incorporated BSY shares soared 5.1% in the last trading session to close at $32.36. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.6% loss over the past four weeks.

Bentley Systems is benefiting from rising subscription revenues and growing annualized recurring revenues.

This company is expected to post quarterly earnings of $0.17 per share in its upcoming report, which represents a year-over-year change of -26.1%. Revenues are expected to be $268.4 million, up 20.4% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Bentley Systems, Incorporated, the consensus EPS estimate for the quarter has been revised 8.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on BSY going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Bentley Systems, Incorporated belongs to the Zacks Internet - Software industry. Another stock from the same industry, Twitter TWTR, closed the last trading session 1.1% higher at $37.78. Over the past month, TWTR has returned 0.2%.

For Twitter , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.14. This represents a change of -30% from what the company reported a year ago. Twitter currently has a Zacks Rank of #3 (Hold).


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