Peraso (PRSO) reported Q3 ’22 results below our estimates as the company was unable to recognize revenue for certain orders shipped to a large customer late in the quarter.
Read MoreWe met with Peraso’s (PRSO) CEO Ron Glibbery at MWC Las Vegas. At the event, Peraso showcased its 60 GHz mmWave devices and modules and its new mmWave Beamformer IC targeted at customer premise equipment (CPE) for licensed 5G spectrum.
Read MoreWe are initiating coverage of Peraso (PRSO) with a price target of $4.00 based on a FY ’23 EV/Sales multiple of approximately 3x. We believe Peraso has a long runway for growth driven by the deployment of 5G networks and the corresponding rise in bandwidth-intensive services.
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