Rimini Street (NASDAQ:RMNI) Earns Buy Rating from Craig Hallum

Rimini Street (NASDAQ:RMNI)‘s stock had its “buy” rating reiterated by stock analysts at Craig Hallum in a research note issued on Friday, July 31st. They presently have a $6.50 price objective on the stock. Craig Hallum’s target price points to a potential upside of 27.10% from the company’s previous close.

Several other equities analysts have also commented on the stock. TD Cowen upped their price target on shares of Rimini Street from $4.50 to $5.00 and gave the stock a “hold” rating in a research report on Tuesday, July 28th. Alliance Global Partners reaffirmed a “buy” rating on shares of Rimini Street in a research report on Friday, May 1st. Wall Street Zen raised shares of Rimini Street from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Weiss Ratings lowered shares of Rimini Street from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 7th. Finally, Zacks Research raised shares of Rimini Street from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Rimini Street Price Performance

RMNI stock traded down $0.09 during midday trading on Friday, hitting $5.11. The stock had a trading volume of 114,197 shares, compared to its average volume of 395,574. The firm has a market cap of $477.44 million, a PE ratio of 63.88 and a beta of 1.23. Rimini Street has a 12-month low of $2.87 and a 12-month high of $5.28. The company’s 50-day moving average price is $4.67 and its 200 day moving average price is $3.94.

Institutional Investors Weigh In On Rimini Street

Large investors have recently made changes to their positions in the business. Immersion Corp acquired a new stake in shares of Rimini Street in the fourth quarter worth $2,043,000. Conifer Management L.L.C. acquired a new stake in shares of Rimini Street in the second quarter worth $25,190,228,000. Bard Associates Inc. acquired a new stake in shares of Rimini Street in the second quarter worth $1,094,000. Pacific Ridge Capital Partners LLC increased its position in shares of Rimini Street by 9.4% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,857,512 shares of the company’s stock worth $7,207,000 after acquiring an additional 159,673 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Rimini Street by 77.0% in the first quarter. Dimensional Fund Advisors LP now owns 373,019 shares of the company’s stock worth $1,222,000 after acquiring an additional 162,293 shares in the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

About Rimini Street

Rimini Street, Inc (NASDAQ: RMNI) is a provider of enterprise software support services, specializing in third-party maintenance for mission-critical applications from leading technology vendors. The company offers comprehensive support for ERP, CRM and database environments, with coverage for systems from providers such as Oracle and SAP. Through its proactive system monitoring, performance tuning, regulatory and tax update services, Rimini Street aims to extend the lifecycle of enterprise applications while delivering service levels comparable to or exceeding those of original software vendors.

Founded in 2005 by technology entrepreneur Seth Ravin, Rimini Street has grown from a startup into a publicly traded company following its initial public offering in March 2018.