Peraso (NASDAQ:PRSO) Stock Rating Upgraded by Wall Street Zen

Peraso (NASDAQ:PRSO) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Peraso in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $3.00.

Peraso Price Performance

Shares of NASDAQ PRSO opened at $1.00 on Friday. Peraso has a 1-year low of $0.59 and a 1-year high of $2.37. The business’s fifty day moving average price is $1.05 and its two-hundred day moving average price is $1.10. The firm has a market capitalization of $12.63 million, a PE ratio of -1.41 and a beta of 1.01.

Peraso (NASDAQ:PRSO) last issued its earnings results on Monday, March 16th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.03. Peraso had a negative return on equity of 129.12% and a negative net margin of 38.99%.The firm had revenue of $2.87 million for the quarter, compared to analyst estimates of $3.21 million. Equities research analysts expect that Peraso will post -3.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Peraso stock. Geode Capital Management LLC lifted its holdings in Peraso Inc. (NASDAQ:PRSO) by 71.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,697 shares of the company’s stock after purchasing an additional 29,095 shares during the quarter. Geode Capital Management LLC owned 0.78% of Peraso worth $61,000 as of its most recent filing with the SEC. Institutional investors own 77.60% of the company’s stock.

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.