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On Tuesday, June 11th, Peraso Inc. (NASDAQ: PRSO) Director Ian McWalter acquired 100,000 shares of the company’s stock at an average price of $1.27 per share, totalling $127,000. This strategic investment increases McWalter’s holdings to 101,246 shares.

On June 12, 2024, Ladenburg Thalmann, a renowned Wall Street firm since 1876, initiated coverage of Peraso Inc. (NASDAQ: PRSO) with a price target of $3.75, signaling a potential 148% increase from Monday’s closing price. Research by Grandview Research in January 2024 highlighted the global mmWave market’s growth to $3.75 billion in 2023. The study suggests that mmWave technology applications in consumer sectors could drive significant market expansion, potentially causing a paradigm shift and achieving a compound annual growth rate (CAGR) of around 40% through 2030.

The mmWave technology market is expected to surpass $55 billion by the end of the decade, driven by the increasing use of bandwidth-intensive applications and the rising demand for high-speed IoT solutions. Founded in 2009, Peraso Inc. (NASDAQ: PRSO) has focused on mmWave solutions, establishing itself as the leading producer of mmWave devices and innovating high-volume mmWave production testing methodologies.

Ladenburg Thalmann states, “Considering the current size and anticipated rapid growth of the mmWave market, we believe Peraso’s market-leading silicon and module solutions position the company for significant and sustained top- and bottom-line growth. We project a 22% revenue growth for 2024 and anticipate mmWave product revenue to increase by 160% year-over-year in 2025. With this expected growth, we value Peraso based on a multiple of 3x its estimated 2025 revenues, discounted back to the present at 20%. Therefore, we initiate coverage of Peraso Inc. (NASDAQ: PRSO) with a Buy rating and a 12-month price target of $3.75.”

Peraso Inc. (NASDAQ: PRSO) shares opened at $1.50 on Friday. The stock has a twelve-month low of $1.17 and a 2024 high of $9.60, with a market cap of $4.01 million. It maintains a 50-day moving average of $1.37 and a 200-day moving average of $3.54. Recently, Peraso has shown multiple bullish indicators, reflected in a significant increase in trading volume over the past week, making it a stock to watch closely.

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