Peraso (NASDAQ:PRSO) Price Target Raised to $3.25

Peraso (NASDAQ:PRSO) had its price objective increased by LADENBURG THALM/SH SH from $2.75 to $3.25 in a research report sent to investors on Monday morning,Benzinga reports. LADENBURG THALM/SH SH currently has a buy rating on the stock.

PRSO has been the topic of several other reports. Weiss Ratings downgraded Peraso from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 7th. Wall Street Zen upgraded Peraso from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Peraso presently has an average rating of “Moderate Buy” and a consensus price target of $3.08.

Peraso Stock Performance

PRSO stock opened at $0.66 on Monday. The firm has a 50 day moving average price of $0.77 and a 200-day moving average price of $0.94. Peraso has a 52-week low of $0.58 and a 52-week high of $2.37. The firm has a market capitalization of $9.67 million, a price-to-earnings ratio of -0.96 and a beta of 1.04.

Peraso (NASDAQ:PRSO) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.03. Peraso had a negative return on equity of 223.38% and a negative net margin of 85.63%.The company had revenue of $1.31 million for the quarter, compared to the consensus estimate of $1.25 million. As a group, sell-side analysts forecast that Peraso will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Peraso

A hedge fund recently raised its position in Peraso stock. Geode Capital Management LLC boosted its holdings in Peraso Inc. (NASDAQ:PRSO) by 71.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,697 shares of the company’s stock after acquiring an additional 29,095 shares during the quarter. Geode Capital Management LLC owned 0.78% of Peraso worth $61,000 at the end of the most recent quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

About Peraso

Peraso Technologies Inc is a Canadian semiconductor company specializing in the research, design and development of millimeter wave (mmWave) wireless communication solutions. The company’s core focus lies in the 60 GHz frequency band, where it engineers high-performance integrated circuits and beamforming solutions designed to deliver multi-gigabit wireless connectivity. Peraso’s technology is tailored for applications demanding high data throughput, low latency and reliable short-range wireless links.

The company’s product portfolio includes 60 GHz chipset solutions for wireless local area networking (WiGig), fixed wireless access (FWA), small-cell backhaul and point-to-point communication links.