Wise initiated with an Outperform at William Blair

William Blair initiated coverage of Wise (WSE) with an Outperform rating. The firm says the company improves cross-border payments for consumers, small and medium-sized businesses, and large enterprises. The company’s cross-border take-rates should continue to decline, but its gross profit dollars, earnings, and cash flow should continue to grow, the analyst tells investors in a research note. Wise has a “self-reinforcing flywheel,” Blair contends.