Peraso (NASDAQ:PRSO) Posts Earnings Results, Beats Estimates By $0.03 EPS

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

Peraso Stock Performance

PRSO traded up $0.38 during trading on Monday, reaching $1.87. The stock had a trading volume of 32,325,827 shares, compared to its average volume of 9,137,193. The stock has a market cap of $16.80 million, a PE ratio of -1.97 and a beta of 1.10. Peraso has a one year low of $0.52 and a one year high of $2.37. The business has a 50-day moving average of $1.02 and a 200-day moving average of $1.10.

Analyst Ratings Changes

Several equities analysts recently commented on PRSO shares. Weiss Ratings restated a “sell (e+)” rating on shares of Peraso in a research report on Monday, December 29th. Wall Street Zen upgraded Peraso from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Williams Trading set a $3.00 price objective on Peraso in a report on Friday, December 5th. Finally, Benchmark restated a “buy” rating and issued a $3.00 price objective on shares of Peraso in a research report on Friday, December 5th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $3.00.

Hedge Funds Weigh In On Peraso

An institutional investor recently raised its position in Peraso stock. Geode Capital Management LLC grew its position in shares of 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 fund owned 69,697 shares of the company’s stock after purchasing an additional 29,095 shares during the quarter. Geode Capital Management LLC owned approximately 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.

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.