In a report released today, David Williams from Benchmark Co. reiterated a Buy rating on Peraso, Inc. (PRSO – Research Report), with a price target of $9.00.
David Williams’ Buy rating for Peraso, Inc. stems from a series of positive developments the company has announced. These include the initial commercial order for its DUNE platform, aimed at dense urban network environments, and a successful capital infusion through a secondary share offering. Additionally, preliminary fourth-quarter results have shown promise, and while challenges remain with inventory digestion, there is an expectation for improved demand in the latter half of the year as new product designs start to contribute to the company’s financial performance.
Furthermore, Williams believes that the recent capital raise alongside the End-of-Life (EOL) memory sales provides Peraso with a solid financial runway for the next twelve months, contributing to the sustainability of the business. The $14 million from memory sales, paired with a $4.5 million capital raise, is seen as providing an adequate cushion for the company. The company’s initiatives in Fixed Wireless Access (FWA) for dense urban settings also appear to be gaining traction, hinting at a robust pipeline of potential growth. These factors, combined with liquidity bolstered by recent financial maneuvers, underpin Williams’ confidence in the stock, justifying the Buy rating and a price target adjustment to $9.
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Peraso, Inc. (PRSO) Company Description:
MoSys, Inc. focuses on the development and sale of integrated circuits, or ICs, for cloud networking, communications, security appliance, video, monitor and test, data center and computing markets. Its products include blazar accelerator engine ICs, 100G linespeed products, and development kits. The company was founded in September 1991 and is headquartered in San Jose, CA.
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