Rimini Street (NASDAQ:RMNI) Announces Earnings Results

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

Rimini Street Price Performance

Shares of Rimini Street stock traded up $0.40 during trading hours on Friday, hitting $3.45. 358,412 shares of the company’s stock traded hands, compared to its average volume of 261,811. The stock has a market capitalization of $313.22 million, a price-to-earnings ratio of -9.29 and a beta of 1.31. Rimini Street has a 12-month low of $1.53 and a 12-month high of $3.75. The company has a fifty day simple moving average of $2.89 and a 200-day simple moving average of $2.25.

Insider Buying and Selling

In other news, CEO Seth A. Ravin sold 14,375 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $2.20, for a total transaction 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 $978,810.80. This represents a 3.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 33,867 shares of company stock valued at $83,982. 41.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Alliance Global Partners raised Rimini Street from a “neutral” rating to a “buy” rating in a research note on Friday. Craig Hallum upgraded shares of Rimini Street from a “hold” rating to a “buy” rating and upped their target price for the stock from $2.00 to $6.00 in a report on Tuesday, December 17th.

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.