Professional
Added to YB: 2023-03-28
Pitch date: 2023-03-28
RMNI [bullish]
Rimini Street, Inc.
-14.21%
current return
Author Info
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Company Info
Rimini Street, Inc. provides enterprise software support, managed services, and Agentic AI ERP solutions.
Market Cap
$300.7M
Pitch Price
$4.01
Price Target
N/A
Dividend
N/A
EV/EBITDA
6.32
P/E
8.41
EV/Sales
0.64
Sector
Software
Category
growth
Rimini Street: A Recession Hedge with Incredible Upside
RMNI: Rimini, 3rd party IT service provider w/ 60-65% GM & 94% retention, offers maintenance + AMS services for Oracle, SAP etc at 50% discount. $352B TAM, 16% CAGR to 2028 goal $1B rev. Low $28M op inc due to Oracle litigation (3-5% of rev), potential 5x leverage to $150M on sales 2x w/ 15% margin. Trades 7.5x EBITDA, 40% off '21 high. Risks: Cash use unclear, aggressive margin targets. Upside: Recovery to $11.50/sh (3x) on recession resistance & sales execution.
Read full article (11 min)