Rimini Street Inc. Shares Rise 35.78% From The Lows – But Will They Continue?

In last trading session, Rimini Street Inc. (NASDAQ:RMNI) saw 0.41 million shares changing hands with its beta currently measuring 1.11. Company’s recent per share price level of $3.13 trading at $0.15 or 5.03% at ring of the bell on the day assigns it a market valuation of $279.79M. That closing price of RMNI’s stock is at a discount of -69.97% from its 52-week high price of $5.32 and is indicating a premium of 35.78% from its 52-week low price of $2.01. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.68 million shares which gives us an average trading volume of 427.21K if we extend that period to 3-months.

For Rimini Street Inc. (RMNI), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.00. Splitting up the data highlights that, out of 4 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 2 suggested the stock as a Hold whereas 2 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.11 in the current quarter.

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Rimini Street Inc. (NASDAQ:RMNI) trade information

Upright in the green during last session for gaining 5.03%, in the last five days RMNI remained trading in the green while hitting it’s week-highest on Friday, 11/17/23 when the stock touched $3.13 price level. Rimini Street Inc.’s shares saw a change of -17.85% in year-to-date performance and have moved 7.19% in past 5-day. Rimini Street Inc. (NASDAQ:RMNI) showed a performance of 49.76% in past 30-days. Number of shares sold short was 1.82 million shares which calculate 6.37 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $3.94 to the stock, which implies a rise of 20.56% to its current value. Analysts have been projecting $3.00 as a low price target for the stock while placing it at a high target of $5.00. It follows that stock’s current price would drop -59.74% in reaching the projected high whereas dropping to the targeted low would mean a gain of 4.15% for stock’s current value.

Rimini Street Inc. (RMNI) estimates and forecasts

Statistics highlight that Rimini Street Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -22.52% of value to its shares in past 6 months, showing an annual growth rate of 6.82% while that of industry is 18.50. Apart from that, the company came raising its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to decrease by -35.30% in the current quarter and calculating -8.30% decrease in the next quarter. This year revenue growth is estimated to rise 4.70% from the last financial year’s standing.

4 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $109.69 million for the same. And 4 analysts are in estimates of company making revenue of $105.42 million in the next quarter that will end on Mar 2024. Company posted $108.62 million and $105.51 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 1.00% while estimating it to be -0.10% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 55.65% during past 5 years. In 2023, company’s earnings growth rate is likely to be around -8.55% while estimates for its earnings growth in next 5 years are of 15.00%.

RMNI Dividends

Rimini Street Inc. is more likely to be releasing its next quarterly report on November 01 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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