During the last session, Rimini Street Inc (NASDAQ:RMNI)’s traded shares were 0.62 million, with the beta value of the company hitting 1.29. At the end of the trading day, the stock’s price was $1.85, reflecting an intraday gain of 4.52% or $0.08. The 52-week high for the RMNI share is $3.43, that puts it down -85.41 from that peak though still a striking 17.3% gain since the share price plummeted to a 52-week low of $1.53. The company’s market capitalization is $168.20M, and the average intraday trading volume over the past 10 days was 0.52 million shares, and the average trade volume was 266.17K shares over the past three months.
Rimini Street Inc (RMNI) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 2.50. RMNI has a Sell rating from 0 analyst(s) out of 5 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.09.
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Rimini Street Inc (NASDAQ:RMNI) trade information
Rimini Street Inc (RMNI) registered a 4.52% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 4.52% in intraday trading to $1.85, hitting a weekly high. The stock’s 5-day price performance is 7.56%, and it has moved by 3.35% in 30 days. Based on these gigs, the overall price performance for the year is -22.92%. The short interest in Rimini Street Inc (NASDAQ:RMNI) is 1.9 million shares and it means that shorts have 9.37 day(s) to cover.
The consensus price target of analysts on Wall Street is $5.75, which implies an increase of 67.83% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $3 and $8.5 respectively. As a result, RMNI is trading at a discount of -359.46% off the target high and -62.16% off the low.
Rimini Street Inc (RMNI) estimates and forecasts
Statistics show that Rimini Street Inc has underperformed its competitors in share price, compared to the industry in which it operates. Rimini Street Inc (RMNI) shares have gone down -27.45% during the last six months, with a year-to-date growth rate less than the industry average at -40.74% against 19.40. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -52.60% this quarter and then drop -12.50% in the quarter after that. In the rating firms’ projections, revenue will decrease -3.70% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 102.51M as predicted by 4 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to 98.08M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 112.11M and 106.21M respectively. In this case, analysts expect current quarter sales to shrink by -8.60% and then drop by -7.70% in the coming quarter.
While earnings are projected to return -14.77% in 2024, the next five years will return 10.00% per annum.
RMNI Dividends
Rimini Street Inc is due to release its next quarterly earnings on 2025-Feb-26. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Rimini Street Inc (NASDAQ:RMNI)’s Major holders
Rimini Street Inc insiders own 21.61% of total outstanding shares while institutional holders control 67.32%, with the float percentage being 85.88%. ADAMS STREET PARTNERS LLC is the largest shareholder of the company, while 140.0 institutions own stock in it. As of 2024-06-30, the company held over 23.57 million shares (or 26.2556% of all shares), a total value of $72.35 million in shares.
The next largest institutional holding, with 5.91 million shares, is of CONIFER MANAGEMENT, L.L.C.’s that is approximately 6.5882% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $18.15 million.
