Alliance Global Partners Upgrades Rimini Street (RMNI) to Buy

Alliance Global Partners analyst Brian Kinstlinger upgraded Rimini Street (NASDAQ: RMNI) from Neutral to Buy with a price target of $6.50 (from $2.25).

The analyst commented: "We upgrade RMNI to Buy (from Neutral) and raise our target to $6.50 (from $2.25). Our target is based on an unchanged EV/EBITDA multiple of 8x, but is now applied to
our 2026 estimate (was based on 2025). A multiple of 8x is admittedly low, but given the constant overhang of litigation, the fact that we exclude about $8 million of annual cash expenses from our EBITDA estimates and the recent challenges growing the business, we believe a significant discount is warranted. However, as RMNI should re-coup $58 million of cash in the next few quarters from ORCL and based on our much stronger profit outlook, we believe the risk profile is quite low given the stock trades at an EV/ EBITDA multiple of just 4x based on our 2025 estimate"

For an analyst ratings summary and ratings history on Rimini Street click here. For more ratings news on Rimini Street click here.

Shares of Rimini Street closed at $3.05 yesterday.

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