Tyro Payments Ltd (ASX: TYR)Tyro is currently rated as a buy by at least three brokers, including Ord Minnett.The broker has a price target of $4.30 on the business, which suggests a potential upside of more than 50%. Tyro continues to grow and Ord Minnett thinks that the ASX share can deliver growth in the second half of FY22 as well.Tyro Payments has regularly been giving investors updates about the transaction value that is being processed through its systems.In FY22, Tyro saw December (to 17 December) transaction volume growth of 38% to $2 billion. November growth was 43%. October growth was 34%. Both August and September saw growth of at least 20%, despite the lockdowns in both Sydney and Melbourne.The ASX share says that it’s a tech company providing payments and business banking, taking on “the big guys”. Management say that the business is well positioned to continue to accelerate growth, with tailored payment solutions which is driving strong merchant base and transaction value growth.There are a number of growth drivers for the business, including adding new ‘verticals’, increasing its market share of existing verticals and achieving operating leverage as platforms continue to scale which will help grow profit margins.
TYR Price at posting:
$2.79 Sentiment: Buy Disclosure: Held
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