Shares of Rimini Street, Inc. (NASDAQ:RMNI – Get Free Report) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $6.33.
RMNI has been the subject of a number of research reports. Roth Capital restated a “buy” rating and issued a $6.50 price objective on shares of Rimini Street in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rimini Street in a research note on Friday, October 2nd. Craig Hallum reiterated a “buy” rating and set a $8.00 target price on shares of Rimini Street in a report on Friday, July 31st. Wall Street Zen upgraded shares of Rimini Street from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. 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.
Check Out Our Latest Stock Report on RMNI
Insider Buying and Selling at Rimini Street
Institutional Investors Weigh In On Rimini Street
Several large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company acquired a new position in shares of Rimini Street during the second quarter worth about $49,000. AXQ Capital LP purchased a new stake in shares of Rimini Street during the second quarter worth approximately $90,000. Bank of America Corp DE acquired a new stake in Rimini Street in the second quarter valued at approximately $146,000. Public Employees Retirement System of Ohio acquired a new stake in Rimini Street in the second quarter valued at approximately $158,000. Finally, Deutsche Bank AG acquired a new stake in Rimini Street in the second quarter valued at approximately $207,000. Hedge funds and other institutional investors own 73.75% of the company’s stock.
Rimini Street Price Performance
Shares of NASDAQ:RMNI opened at $4.07 on Thursday. The firm has a market capitalization of $379.96 million, a PE ratio of 50.88 and a beta of 1.31. The firm’s 50-day moving average is $4.68 and its two-hundred day moving average is $4.25. Rimini Street has a 1 year low of $2.87 and a 1 year high of $5.68.
About Rimini Street
Rimini Street, Inc is a global provider of enterprise software support, managed services and consulting. The company helps organizations maintain and optimize business applications from software vendors including Oracle, SAP and IBM, offering an alternative to the vendors’ standard support programs.
Its services include third-party application maintenance and support, software management, interoperability assistance, security services, database administration, technology consulting and application management.
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