Rimini Street (NASDAQ:RMNI) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Rimini Street (NASDAQ:RMNI) announced its quarterly earnings data on Thursday. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $114.21 million during the quarter, compared to analyst estimates of $102.57 million.

Rimini Street Price Performance

Shares of RMNI opened at $3.55 on Friday. Rimini Street has a one year low of $1.53 and a one year high of $3.75. The company has a market cap of $322.77 million, a PE ratio of -9.59 and a beta of 1.31. The stock has a 50-day moving average of $2.91 and a 200-day moving average of $2.26.

Insider Buying and Selling

In other news, CEO Seth A. Ravin sold 14,375 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $2.20, for a total transaction of $31,625.00. Following the completion of the sale, the chief executive officer now owns 444,914 shares in the company, valued at $978,810.80. The trade was a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 33,867 shares of company stock valued at $83,982. 41.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on RMNI. 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 lifted their price objective for the company from $2.00 to $6.00 in a research note 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.