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Investing.com - Benchmark has reiterated its Speculative Buy rating on Peraso, Inc. (NASDAQ:PRSO) with a price target of $3.00, representing significant upside from the current price of $0.82. According to InvestingPro data, the stock appears undervalued based on its Fair Value analysis.
The research firm maintained its rating following Peraso’s continued momentum in developing millimeter wave (mmWave) solutions, noting the company has added multiple new customer engagements and expanded into adjacent markets. This expansion has contributed to impressive revenue growth of 35.5% over the last twelve months, with a healthy gross margin of 57%.
Benchmark highlighted that while Fixed Wireless Access (FWA) markets represent the largest and most immediate opportunity for Peraso due to relatively short design cycles, the company is gaining traction in military and defense applications. InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report about Peraso’s growth prospects.
The firm expressed particular encouragement about Peraso’s growing presence in tactical communications for both ground and air-based systems within the defense sector.
These military and defense applications represent what Benchmark describes as a "meaningful long-term opportunity" for the company as it continues to expand its mmWave solution footprint beyond its core FWA market.
In other recent news, Peraso Inc. reported a decline in revenue for the second quarter of 2025, with total net revenue falling to $2.2 million from $3.9 million in the previous quarter. Despite this decline, the company expressed optimism about its future, projecting record quarterly revenue for the third quarter of 2025, estimated to be between $2.8 million and $3.1 million. The company’s strategic initiatives and future guidance have generated positive investor sentiment. These developments come as Peraso Inc. continues to navigate a challenging market environment. The company’s focus on improving its financial performance appears to be a key element of its strategy. Investors will be closely watching how these projections materialize in the coming months.
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