RMNI Stock Summary and Trading Ideas (Rimini Street | NASDAQ:RMNI)

Rimini Street Inc is a provider of enterprise software support products and services and a third-party support provider for Oracle and SAP software products based in the United States. The company offers solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize clients' enterprise applications, databases, and technology software platforms. Some of its products include Oracle E-business suite, Oracle Database, Peoplesoft, SAP business suite, and others. The company derives maximum revenue from United states.

Rimini Street trades on the NASDAQ stock market under the symbol RMNI.

As of April 24, 2024, RMNI stock price was flat at $2.80 with 159,178 million shares trading.

RMNI has a beta of 1.53, meaning it tends to be more sensitive to market movements. RMNI has a correlation of 0.05 to the broad based SPY ETF.

RMNI has a market cap of $249.44 million. This is considered a Small Cap stock.

Last quarter Rimini Street reported $112 million in Revenue and $.19 earnings per share. This beat revenue expectation by $2 million and exceeded earnings estimates by $.08.

In the last 3 years, RMNI stock traded as high as $11.52 and as low as $2.01.

The top ETF exchange traded funds that RMNI belongs to (by Net Assets): VTI, VGT, IWM, VXF, MGMT.

RMNI has underperformed the market in the last year with a price return of -23.9% while the SPY ETF gained +24.1%. RMNI has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -14.4% and -3.8%, respectively, while the SPY returned +4.5% and -1.7%, respectively.

RMNI support price is $2.70 and resistance is $2.90 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that RMNI stock will trade within this expected range on the day.