Ladenburg Thalmann analyst Jon Hickman raised Peraso, Inc.'s price target to $3.25. The company reported second-quarter earnings. Revenue increased 36% sequentially. Year-over-year revenue declined.
Peraso faces challenges. Its latest quarterly filing included a "going concern" warning. This warning stemmed from recurring losses and declining revenue from its memory IC and mmWave IC shipments. The company also expands into new markets. It recently announced a wireless module for defense and UAV applications. The analyst raised the price target despite the company's ongoing financial difficulties.