Peraso shares surge 20.08% intraday as Benchmark upgrades to Speculative Buy, citing strong pipeline and FWA orders.

Peraso Inc. (NASDAQ:PRSO) surged 20.08% intraday after Benchmark reiterated a Speculative Buy rating with a $3 price target, citing stronger adoption trends and a record 12 pre-production products (up from 7 in the prior quarter). The firm highlighted a major Fixed Wireless Access order, growing 6 GHz demand, and completed field trials for next-generation tactical communications, which boosted defense engagement. Additionally, the appointment of Cees Links, a seasoned wireless executive, to its board reinforced investor confidence. Peraso’s focus on 60 GHz and 5G mmWave technologies for applications like FWA, military, and Edge AI aligns with expanding market opportunities, driving the sharp intraday rally.