Bentley Systems shares fell to a new 52-week low of $28.37 on Tuesday, marking a 60% decline from their all-time high of $71.92 in September 2021. The infrastructure software company, which went public in September 2020 alongside Palantir Technologies, has seen its stock underperform dramatically, gaining just 29% compared to Palantir's 1,510% surge over the same period. Despite slowing growth and margin pressures linked to AI disruption, 12 of 17 analysts rate the stock a Buy with a $45.21 average target price, and both Piper Sandler and BofA recently issued bullish calls, with BofA describing Bentley as a defensive play against AI disruption. The company's annual recurring revenue reached $1.49 billion in the first quarter of 2026, up 22.1% from two years earlier, and its free cash flow yield of 4.9% is the highest since its IPO.
Bank of America Corp
Piper Sandler CompaniesBentley Systems IncAnalysts see a buying opportunity with 12 of 17 rating Buy, average target $45.21, and BofA calls it a defensive play against AI disruption.
Palantir Technologies Inc.