Rimini Street price target lowered to $4 from $4.25 at TD Cowen

TD Cowen lowered the firm’s price target on Rimini Street (RMNI) to $4 from $4.25 and keeps a Hold rating on the shares. The firm updated its model ahead of Q1 results where they expect a slight revenue beat versus their -2% growth estimate and maintain of FY guide of +4-6%. ARR ex-PeopleSoft is a key metric (+3% in 4Q), and they look for acceleration this year.