Roth Capital Upgrades Rimini Street (RMNI) to Buy

Roth Capital analyst Richard Baldry upgraded Rimini Street (NASDAQ: RMNI) from Neutral to Buy with a price target of $8.00.

The analyst comments "We are increasingly bullish about our sector after a substantial pullback, noting our monitored universe is down 40% on average versus their 52-week highs. With RMNI shares down 57% versus their highs, and trading at only 1.1x runrate revenues, we are returning our rating to Buy and maintaining our $8.00 price target. We do believe recent staccato growth results are likely to continue to temper a return to former highs, but view our PT as offering an attractive potential return."

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 $4.99 yesterday.

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