Rimini Street: Extremely Cheap Even After Adjusting For Litigation Risks [Seeking Alpha]
Rimini Street, Inc. (RMNI)
US:NASDAQ Investor Relations:
investors.riministreet.com/investor-relations
Company Research
Source: Seeking Alpha
Rimini Street provides non-proprietary software support at lower prices than Oracle and SAP, attracting smaller companies. The injunction primarily affects a small portion of Rimini's revenue (8%), and the reputational risk is limited due to its competitive pricing. Rimini Street ( NASDAQ: RMNI ) is facing some headwinds after an adversarial ruling in a litigation against Oracle in July 2023. However, with an appeal ongoing and the business relatively safe from a permanent injunction, we believe the stock is still cheap. At just 4 times EBITDA, and high cash conversion margins, the fair price for Rimini is likely between $4.3 and $7.2 per share, with an upside potential between 34% and 125%. Business model overview and the clash with Oracle Rimini Street provides non-proprietary software support to companies employing enterprise suites like Oracle and SAP, which are the two main expertise areas of Rimini. The way the company is able to compete with the owners of the software
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RMNI
News
- Best Value Stocks to Buy for April 25th [Yahoo! Finance]Yahoo! Finance
- Rimini Street Appoints Steve Hershkowitz as Chief Revenue Officer [Yahoo! Finance]Yahoo! Finance
- Rimini Street Appoints Steve Hershkowitz as Chief Revenue OfficerBusiness Wire
- Rimini Street Honored with Two Prestigious Stevie® 2024 Awards in the Category of Customer Service [Yahoo! Finance]Yahoo! Finance
- Rimini Street Honored with Two Prestigious Stevie® 2024 Awards in the Category of Customer ServiceBusiness Wire
RMNI
Earnings
- 2/28/24 - Beat
RMNI
Sec Filings
- 4/10/24 - Form 4
- 4/8/24 - Form 4
- 4/8/24 - Form 4
- RMNI's page on the SEC website