The stock of Rimini Street Inc. (NASDAQ:RMNI) increased by $0.07 on Friday to finish at $2.73, up 2.63 percent. The last five days have seen an average of 704,820 shares of common stock traded. 14 times new highs were reached in the current year, with a fall of -$1.08. The average number of shares traded over the last 20 days was 1,241,525, while the average volume over the last 50 days totaled 675,224.
RMNI stock dropped -48.00% since last month. On 07/28/23, the company’s shares reached a one-month low of $2.17. The stock touched a high of $5.83 on 07/19/23, after rallying from a low of $2.17 in 52 weeks. The price of RMNI stock has declined by -28.35% or -$1.08 this year, reaching a new high 14 times. Still, the stock price is down -53.17% from the 52-week high.
Insider Transactions
RMNI stock investors should be aware that Rimini Street Inc. (RMNI) stock had its last reported insider trading activity 10 days ago on Aug 04. On Aug 04, EVP, Glob.Transform.&CPO Rowe David W. sold 11,449 shares at $2.56 each. This transaction resulted in the insider making $29,287. On Aug 04, Salaets Steven sold 8,064 shares at a price of US$2.56. After the transaction, the insider now owns 188,443 shares. EVP,ChiefRecurringRev.Officer Maddock Kevin had earlier sold 5,729 shares on Aug 04 for $2.56 a share. The transaction was completed for $14,655.
Valuation Metrics
Rimini Street Inc. (RMNI) has a trailing price-to-earnings (P/E) ratio of 58.09. Beta for the stock is 0.85. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.56.
Financial Health
For the three months ended June 29, Rimini Street Inc.’s quick ratio was 0.80, while its current ratio was 0.80, indicating its inability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 63.00% percent. Rimini Street Inc.’s EBITDA margin for the year ended June 29 was 10.10%, whereas its operating margin stood at 4.10% for the same period. Based on annual data, it had gross profit of $257.28 million and revenue of $409.66 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. RMNI’s return on assets (ROA) during the last 12 months has been 1.20%. There was a -128.90% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -5.90%.
Earnings Surprise
According to Rimini Street Inc.’s quarterly financial report for the quarter that ended June 29, it had $67.11 million in total debt versus $17.13 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $106.42 million, while revenues rose by 4.91% to $105.51 million. It was predicted that Rimini Street Inc.’s quarterly earnings would be $0.1, but it ended up being $0.11, beating the consensus by -9.10%. EBITDA was $12.26 million for the quarter. At the end of Rimini Street Inc.’s most recent quarter ended June 29, its liabilities totaled 432.92 million, while its total debt was $86.12 million. Equity owned by shareholders amounts to $89.09 million.
Technical Picture
Here’s a quick look at Rimini Street Inc.’s (RMNI) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 35.35%, suggesting the stock is Neutral, with a 57.85% historical volatility rate.
The stochastic %K and %D were 22.55% and 17.83% respectively, while the average true range (ATR) was 0.24. Based on the 14-day stochastic reading of 34.15%, the RSI (14) reading is 33.81%. On the 9-day MACD Oscillator, the stock is at 0.06, and the 14-day reading is at 0.05.
Analyst Ratings
Rimini Street Inc. (NASDAQ: RMNI) was downgraded by Craig Hallum to a a Hold rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned Rimini Street Inc. (RMNI) an Overweight rating. RMNI is a stock that is recommended for selling by 0 brokerage firms, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 2 others recommend it as a buy.
What is RMNI’s price target for the next 12 months?
The current consensus forecast for the stock is between $3.00 and $5.00, with a median target price of $4.00. In analyzing these forecasts, the average price target given by analysts for Rimini Street Inc. (RMNI) is $4.00.
