What is a parse tree object? I have looked into sys.syscachedobjects table. I found some records have an object type of parsetree.

Can anyone tell me in detail what a parsetree is? Is this a data structure used by SQL Server, and can it help simplify my job as a DBA?
The breakdown of your code by by SQL server is checked by the engine for any issues.  If it does not find them it generates a parse tree and passes it to the algebrizer.  It is another way to represent the query.