If there is one company whose restructuring efforts are paying off, it is local-deals shopping website Groupon (GRPN - Get Report) .

After trading up to about $26 a share after its 2011 initial public offering, the company has fallen from grace amid slowing revenue growth and changes in management. Even though the stock has recovered more than 50% from the start of the year to about $5.43, it is still miles away from its post-IPO high.

However, if the company can continue its momentum, with the latest power dose coming from second-quarter results, it would prove to be a prudent time to get into Groupon. The stock looks like a growth winner this year.

Groupon surprised investors and analysts by reporting a narrower-than-expected second-quarter loss of $51.7 million, or a penny a share. Analysts were expecting a loss of 2 cents a share.

The Chicago-based company also beat analysts' revenue estimates of $711 million, reporting $756 million.

Although international gross billings dipped in international markets due to the scaling back of operations in certain locations amid Groupon's restructuring efforts, gross billings in the domestic market climbed an encouraging 8%. Overall, at $1.49 billion, gross billings slipped 2% from a year earlier.

In the most recent quarter, the company added 1 million customers, bringing the company's total to 27.9 million, the highest count in more than two years. Although these figures may look miniscule compared with the number of users at Amazon, Facebook or Twitter, it is the go-to website when companies want customers to go from online platforms to their offline stores.

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The highlight, however, of the company's second-quarter announcement was that it raised its full-year revenue estimate to a range of $3 billion to $3.1 billion from a previous estimate of $2.75 billion to $3.05 billion.

Groupon's health seems to have improved because of its restructuring efforts.

The company has withdrawn from nearly 20 global economies, undertaken downsizing measures and ramped up marketing efforts.

Toward this end, Groupon launched its first broad offline advertising campaign during the quarter and a national television advertisement after a five-year hiatus.

After downgrades from financial firms such as RBC Capital Markets and UBS this year, analysts seem to believe in Groupon's story.

Maxim Group initiated coverage on the stock with a buy rating, and Piper Jaffray upgraded its rating to overweight from neutral. After issuing a price target of $4 to $6 a share just before the earnings release, the latter upped its price target to $6.5 on the stock.

In terms of earnings growth, analysts expect Groupon to record explosive growth.

Groupon is expected to deliver earnings growth of 25% annually for the next five years, far outperforming the industry's industry's 6.9% growth and the S&P 500's 7.6% growth, according to analysts' estimates compiled by Thomson Reuters on Yahoo Finance.

Even though the company's losses are a negative, Groupon is definitely worth considering because the stock was down nearly 80% from its peak but has risen 12.5% over the past year.

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This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.