Rimini Street (NASDAQ:RMNI) Announces Quarterly Earnings Results

Rimini Street (NASDAQ:RMNI) announced its quarterly earnings results on Thursday. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01), Zacks reports. The firm had revenue of $114.21 million during the quarter, compared to the consensus estimate of $102.57 million. Rimini Street had a negative net margin of 7.87% and a negative return on equity of 83.26%.

Rimini Street Price Performance

NASDAQ:RMNI traded up $0.40 during trading hours on Friday, hitting $3.45. The company had a trading volume of 358,412 shares, compared to its average volume of 261,811. Rimini Street has a 52 week low of $1.53 and a 52 week high of $3.75. The company has a market capitalization of $313.22 million, a PE ratio of -9.29 and a beta of 1.31. The stock has a 50-day moving average price of $2.89 and a 200 day moving average price of $2.25.

Insider Activity at Rimini Street

In other Rimini Street news, CEO Seth A. Ravin sold 14,375 shares of Rimini Street stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $2.20, for a total value of $31,625.00. Following the completion of the transaction, the chief executive officer now directly owns 444,914 shares of the company’s stock, valued at approximately $978,810.80. The trade was a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 33,867 shares of company stock worth $83,982 over the last 90 days. 41.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RMNI. Craig Hallum raised Rimini Street from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $2.00 to $6.00 in a report on Tuesday, December 17th. Alliance Global Partners raised Rimini Street from a “neutral” rating to a “buy” rating in a research note on Friday.

Rimini Street Company Profile

Rimini Street, Inc provides enterprise software products, services, and support. The company engages in the provision of support services for Oracle and SAP enterprise software products. It also provides Rimini ONE, an outsourcing option that offers a set of unified and integrated services to run, manage, support, customize, configure, connect, protect, monitor, and optimize its clients’ application, database, and technology enterprise software; Rimini Support, a mission-critical support for Oracle, SAP, proprietary and open-source database, and technology software; Rimini Manage, a suite of managed services for application and database software; Rimini Protect, a suite of personalized software security services and solutions; and Rimini Connect, a suite of managed interoperability solutions for browsers, operating systems, and email systems.