Pereira is on loan for the season at Valencia and was caught driving his Bentley at excessive speeds on Monday.
The 21-year-old faced a judge at a Spanish court on Tuesday and apologised for his actions on Twitter.
"Very sorry for speeding yesterday evening, I will accept whatever punishment comes," the Brazilian said on social media.
"It is important to be careful when driving and always respect the rules. Lesson learned."
Pereira has made six appearances for Valencia so far this season and scored his first goal for the La Liga club in Sunday's 6-3 win over Real Betis.
Valencia play Sevilla in league action on Saturday before travelling to Real Zaragoza for a match in the Copa del Rey on October 24.