Pacific Crest

While checks indicate improvement in Model X orders, there seems to have been aggressive Model S discounting at U.S. sales centers to maximize Q3 deliveries, Pacific Crest’s Brad Erickson said in a report. He maintained a Sector Weight rating on Tesla Motors Inc (NASDAQ: TSLA), citing near-...

According to the Financial Times, Apple Inc. (NASDAQ: AAPL) approached McLaren Technology Group, the British-based supercar engineer and Formula One team owner, over a potential acquisition. The Financial Times, citing "three people briefed on the negotiations," reported that Apple approached the...

Pacific Crest starts coverage of Cyberark Software Ltd (NASDAQ: CYBR) with a Sector Weight rating as valuation keeps the brokerage at sidelines, despite the company's "promising opportunity" in privileged access management space, which is the basis of exploitation by today's hackers. CyberArk...

Pacific Crest says Apigee Corp (NASDAQ: APIC) is a good strategic fit for Google given the search giant's emphasis on building up its enterprise cloud offerings. Google will buy Apigee, an API provider, for $17.40 per share in cash, for a total value of approximately $625 million. The...

Pacific Crest Securities expects Tyler Technologies, Inc. (NYSE: TYL) to take advantage of the second decade of Software-as-a-Service (SaaS). Analyst Trevor Upton maintains his Overweight rating while increasing the target price from $176 to $178 on the company's stock, citing eFiling momentum and...

This year marks the beginning of the second decade of Software as a Service (SaaS) and Infrastructure as a Service (IaaS) cloud computing. According to Pacific Crest analyst Brent Bracelin, Microsoft Corporation (NASDAQ: MSFT) was late to the cloud computing game, but the company will make up...

Pacific Crest’s Brad Erickson noted that IMPINJ Inc (NASDAQ: PI) was trading at a premium to peers, although this premium was warranted given the company’s “faster growth, strong exposure to secular tailwinds and a stable ramp to profitability.” Erickson maintains an...

Pacific Crest’s Rob Owens believes trends are improving for Barracuda Networks Inc (NYSE: CUDA), driven by “alignment in the product set, new incentivizations toward virtualized solutions, and a cloud-centric channel marketing campaign with supporting solutions.” Owens upgraded...

Pacific Crest has upgraded Fortinet Inc (NASDAQ: FTNT) to Overweight with a $47 target price on enhanced profitability initiatives and success in adjacent solutions. "A shift in focus to increasing profitability, a unified platform solution coming of age at the right time, and a go-to-market...