Montrose secured their second win of the season thanks to a double from Bryan Deasley.
The home side had to come from a goal down to extended their unbeaten run to four matches.
Rory McAllister opened the scoring for the visitors after just 14 minutes, slotting past Stuart McKenzie from close range.
But their lead was short lived as Deasley's left-footed effort brought the home side level just before the half-hour mark.
David Gray nearly went close for the hosts on 64 minutes but he was denied from six yards by a good save from Peterhead goalkeeper Graeme Smith.
However, Deasley settled the game with 10 minutes left as he fired into the bottom corner from 12 yards out.
Montrose: McKenzie, Stephen McNally, Colin Wilson (Bonar 72), Rodger, McIntosh, David Gray, Masson, Watson, Young, Garry Wood, Deasley, Webster (Johnston 74). Subs Not Used: Webster, Bell, McCord, Sturrock, Easton.
Booked: Masson. Goals: Deasley 29,80.
Peterhead: Smith, Sharp (Gilfillan 84), McGeever, Scott Ross, Noble, O'Neill, Redman, Brown (Cowie 68),Cox, McAllister, McLaren. Subs Not Used: Jarvie, McCann, McGlinchey, Richardson, Rodgers.
Booked: Noble, McLaren, Scott Ross, Sharp. Goals: McAllister 14.
Ref: Barry Cook