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Rimini Street (RMNI) Gains Momentum With SP ENW and Tidewater ERP Wins

Rimini Street, Inc. (NASDAQ:RMNI) is one of the undervalued technology penny stocks to buy now. On January 6, Rimini Street, Inc. (NASDAQ:RMNI) announced that SP Electricity North West has resolved long‑standing SAP system challenges by switching to Rimini Support and implementing its single sign-on solution.

The UK energy provider, serving over 5 million customers, cut overhead costs worth hundreds of thousands of pounds and eliminated password reset issues that once consumed 10% of its service desk’s time. With savings of 50% on annual maintenance fees and improved system reliability, SP ENW now considers Rimini Street a critical partner in its SAP roadmap, confident in building a stable and flexible future beyond 2030.

On December 11, 2025, Rimini Street, Inc. expanded its global partnership with Tidewater, the world’s top operator of offshore support vessels. According to Rimini, the expanded relationship will deliver comprehensive ERP solutions to support Tidewater’s growth in energy exploration and production.

The collaboration began with Rimini providing expert support for Tidewater’s Oracle PeopleSoft ERP system in Brazil. Initially, the goal was to ensure that Tidewater’s activities were compliant and that operational stability was maintained. This objective was achieved, and as a result, Rimini has now extended its services to include support for Tidewater’s SAP systems. It will also help Tidewater implement new tax software, facilitating the consolidation of regional financial operations into a single global platform.

Meanwhile, on December 5, TD Cowen analyst Derrick Wood reaffirmed a Hold rating on Rimini Street with a $5 price target, citing a mix of positives and challenges. While the company’s long-term guidance looks strong, with FY26 revenue and margin projections exceeding prior estimates, near-term Q4 expectations fell short. Strategic moves like launching Agentic AI ERP and expanding channel alliances show promise but will take time to deliver. Although the litigation overhang has been removed, execution remains key—leading Wood to maintain a cautious stance.

Rimini Street, Inc. (NASDAQ:RMNI) provides enterprise software support and managed services, specializing in Oracle, SAP, VMware, and other mission-critical applications. The company’s offerings include Rimini ONE, Rimini Connect, Rimini Consult, and Rimini Support.

While we acknowledge the potential of Rimini Street, Inc. (NASDAQ:RMNI) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RMNI and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 12 Best Consumer Goods Stocks Billionaires Are Quietly Buying and Goldman Sachs Penny Stocks: Top 12 Stock Picks.

Disclosure: None. This article is originally published at Insider Monkey.

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