Robertson Stephens Issues Research Reports on Oracle, CacheFlow, and Pacific Gulf Properties

Strategic Insights -

Robertson Stephens, a leading investment bank focused on growth companies, has issued research reports on Oracle Corp., CacheFlow Inc., and Pacific Gulf Properties. The reports provide analysis and recommendations on the companies' financial health, growth prospects, and market opportunities.

The reports highlight Oracle's strong financial performance in its first quarter of fiscal year 2000, with revenue exceeding expectations and significant margin improvements. Oracle is identified as a long-term winner in its core database space as well as in its relatively new forays into Internet and eCommerce applications. Robertson Stephens maintains a Buy rating for Oracle.

CacheFlow Inc. is initiated with a Buy rating based on its strong customer base, proprietary Operating System, and rapidly growing caching appliance market. Robertson Stephens believes that product revenue will expand with the market, driven by the company's unique offerings and market demand.

Pacific Gulf Properties is downgraded from Buy to Long-Term Attractive due to its plans to sell its industrial and multi-family portfolios, generating substantial sale proceeds. The company expects to distribute a special dividend of up to $26.00/share in cash to its shareholders upon completion of the sales.

Key Takeaways:

  • Oracle Corp. (Nasdaq: ORCL) was rated Buy with a target EPS of $0.90, a significant increase from its previous estimate of $0.77.
  • CacheFlow Inc. (Nasdaq: CFLO) was initiated with a Buy rating based on its strong customer base, proprietary Operating System, and rapidly growing caching appliance market.
  • Pacific Gulf Properties (NYSE: PAG) was downgraded from Buy to Long-Term Attractive due to its plans to sell its industrial and multi-family portfolios, generating substantial sale proceeds.
  • Robertson Stephens maintains a market leading position in technology IPOs, having completed 103 deals in the first quarter of 2000 valued at $40 billion.
  • The firm has 47 equity research analysts covering nearly 700 companies, with a global presence through its 1,200 employees worldwide.

Statistics:

  • Oracle Corp. (Nasdaq: ORCL) revenue exceeded expectations, with EPS estimated at $0.90.
  • CacheFlow Inc. (Nasdaq: CFLO) has a strong customer base, with a rapidly growing caching appliance market.
  • Pacific Gulf Properties (NYSE: PAG) plans to sell its industrial portfolio to CalWest Industrial Properties for approximately $929 million.
  • The company expects to generate an additional $120 million in sale proceeds from its multi-family apartment portfolio.
  • Robertson Stephens completed 103 IPOs, follow-ons, and convertibles in the first quarter of 2000, valued at $40 billion.

Sources:

  • Robertson Stephens
  • Oracle Corp. (Nasdaq: ORCL)
  • CacheFlow Inc. (Nasdaq: CFLO)
  • Pacific Gulf Properties (NYSE: PAG)
  • National Association of Securities Dealers
  • FleetBoston Financial Corporation (NYSE: FBF)