Rimini Street
RMNI Small CapTechnology · Software - Application
Updated: Jul 6, 2026, 22:20 UTC
Price Chart
Key Metrics
Valuation Analysis
About the Company
Rimini Street, Inc. provides enterprise software support, managed services, and Agentic AI ERP solutions. The company engages in the provision of support services for Oracle and SAP enterprise software products. It also provides Rimini Agentic UX, an AI-driven orchestration, automation, and user experience (UX) design to deliver a unified and composable interface for enterprise workflows; Rimini Support, a mission-critical support for Oracle, SAP and VMware applications, proprietary and open-source database, and technology software; Rimini Manage, a suite of managed services for application and database software; and Rimini Protect, a suite of personalized software security services and solutions. The company also offers Rimini Connect, a suite of managed interoperability solutions for bro
Rimini Street Stock at a Glance
Rimini Street (RMNI) is currently trading at $4.66 with a market capitalization of $431.3M. The trailing P/E ratio stands at 12.94x, with a forward P/E of 9.08x. The 52-week range spans from $2.87 to $5.38; the current price is 13.4% below the yearly high. Year-over-year revenue growth stands at +1.2%. The net profit margin stands at 8.3%.
💰 Dividend
Rimini Street currently does not pay a dividend. The company typically reinvests its earnings into growth initiatives and product development.
📊 Analyst Rating
5 analysts rate Rimini Street (RMNI) on consensus: None. The average price target is $6.30, implying +35.19% from the current price. Analyst price targets range from $4.50 to $8.00.
Rimini Street: The Investment Case in Detail
Rimini Street (RMNI) operates in the Technology — specifically Software - Application — and is headquartered in United States. Below is a structured read of the investment case built directly from the latest fundamentals, valuation multiples, analyst positioning and smart-money flows. Each section translates raw numbers into the investment logic they imply, so you can decide whether the risk/reward fits your portfolio.
The Bull Case
Our valuation screen flags the stock as undervalued relative to its fundamentals — multiples are running below where the cash flow profile would normally justify.
The Bear Case
Revenue growth has slowed to just 1.2%, which is below nominal GDP — the business is no longer outgrowing the broader economy.
Valuation in Context
With a PEG ratio of 0.88, the price-to-earnings multiple is actually below the company's growth rate — classic value-meets-growth territory that Peter Lynch would have called a 'GARP' opportunity.
What to Watch Next
- The forward P/E of 9.08x is meaningfully below the trailing 12.94x — analysts expect earnings to step up; the next earnings release is the test.
- The analyst consensus price target implies 35.19% upside — if the next two quarters confirm the underlying thesis, target hikes typically follow.
Investment Thesis: Strengths & Weaknesses
- High gross margin of 59.92% — indicates pricing power
- Currently flagged as undervalued
- Positive free cash flow
No significant red flags in current metrics.
Technical Snapshot
Price trades above both the 50- and 200-day moving averages, with 50d above 200d — a classic bullish setup (golden-cross alignment).
Risk Profile
The data points to market-like volatility.
Trading Data
Related Stocks in the Same Sector
Rimini Street at $3.46: the Oracle and SAP rebel charging 50 percent of vendor support — now pivoting to agentic AI
The Real Story
Rimini Street has the most controversial business model in enterprise software: it provides third-party support for Oracle and SAP installations at roughly half the price the vendors charge for their own maintenance contracts. Oracle has sued Rimini at least four times over 15 years. Rimini has paid settlements but kept growing. The customers — Fortune 500 IT departments fed up with paying 22 percent maintenance every year for software that has not changed since 2014 — keep signing.
What changed in 2024 is the pivot to agentic AI ERP. Rimini is now bundling support with AI agents (Rimini Agentic UX) that overlay outdated Oracle EBS and SAP ECC systems and make them feel modern without the multi-year SAP S/4 HANA migration. That positioning matters because the legal-overhang story has dominated the stock for a decade — and now there is a growth narrative the market has not priced in.
What Smart Money Thinks
Adams Street Partners (insider since pre-IPO) and Manchester Capital have been long-term holders. CEO Seth Ravin owns ~10 percent. No mega-fund 13F whale. The negative book value is from accumulated buybacks plus settlement liabilities — not insolvency.
Explore the BMI Smart-Money Tracker →
📈 The 3 Real Bull Points
📉 The 3 Real Bear Points
Valuation in Context
At $3.46 with $0.36 trailing EPS the trailing P/E is 9.6 and forward P/E is 6.7 — pricing in near-zero growth. EV/EBITDA 8.7. The negative P/B is balance-sheet noise from buybacks, not distress. The market is paying nothing for the agentic-AI optionality.
🗓️ Next 3 Catalyst Dates
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💬 Daniel's Take
Rimini Street is one of those special-situations names where the legal narrative is finally fading and a real growth story is starting. I find the agentic-AI angle particularly interesting because it sidesteps the SAP S/4 HANA migration cost that every CIO dreads. Forward P/E 6.7 with a credible growth lever is asymmetric. I would size 1 to 2 percent in a special-situations sleeve. The risk is customer loss and renewed litigation; the reward is the multiple expanding back to mid-teens if AI traction shows in 2026 reports.
Sources (3)
Disclaimer: This article is not investment advice. Investing in stocks carries risks, including total loss.
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