Peraso (NASDAQ:PRSO) Releases Earnings Results, Beats Expectations By $0.03 EPS

Peraso (NASDAQ:PRSO) issued its quarterly earnings results on Monday. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03, FiscalAI reports. The business had revenue of $2.87 million during the quarter, compared to the consensus estimate of $3.21 million. Peraso had a negative net margin of 39.00% and a negative return on equity of 125.68%.

Peraso Stock Performance

Peraso stock traded up $0.41 during trading on Monday, reaching $1.90. The company had a trading volume of 26,840,501 shares, compared to its average volume of 9,099,419. Peraso has a 12-month low of $0.52 and a 12-month high of $2.37. The stock’s 50 day moving average price is $1.02 and its two-hundred day moving average price is $1.10. The firm has a market capitalization of $17.08 million, a price-to-earnings ratio of -2.00 and a beta of 1.10.

Hedge Funds Weigh In On Peraso

A hedge fund recently raised its stake in Peraso stock. Geode Capital Management LLC grew its stake in shares of Peraso Inc. (NASDAQ:PRSO) by 71.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 69,697 shares of the company’s stock after buying an additional 29,095 shares during the period. Geode Capital Management LLC owned 0.78% of Peraso worth $61,000 as of its most recent SEC filing. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PRSO shares. Benchmark restated a “buy” rating and set a $3.00 target price on shares of Peraso in a research report on Friday, December 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Peraso in a report on Monday, December 29th. Williams Trading set a $3.00 price objective on Peraso in a report on Friday, December 5th. Finally, Wall Street Zen raised Peraso from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $3.00.

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.