Why are WiseTech Global shares tumbling 4% today?

This tech stock is ending the week in the red. Let's find out why.

Key points
  • WiseTech's shares have dropped amid a broader market selloff despite maintaining FY 2026 guidance, attributed to Wall Street's unexpected downturn.
  • At its annual general meeting, WiseTech reaffirmed robust revenue and EBITDA targets, acknowledging the impact of the e2open integration on margins but promising long-term margin recovery through strategic execution.
  • The company's leadership remains optimistic about future growth, emphasising expanded market reach and innovation, with further updates anticipated at the upcoming Investor Day.

WiseTech Global Ltd (ASX: WTC) shares are falling on Friday.

In early trade, the logistics solutions technology company's shares are down 4% to $61.50.

A man sitting at his desktop computer leans forward onto his elbows and yawns while he rubs his eyes as though he is very tired.

Image source: Getty Images

Why are WiseTech shares sinking?

Investors have been selling the company's shares today after a market selloff overshadowed the release of an update at its annual general meeting.

At the time of writing, the ASX 200 index is down 2% and the S&P/ASX All Technology Index is down 2.3%.

This follows an unexpectedly poor night of trade on Wall Street on Thursday, when the market was expecting a positive session following a strong result from Nvidia (NASDAQ: NVDA).

Annual general meeting update

Ahead of the main event today, WiseTech released an update on its performance in FY 2026.

Pleasingly, the company appears to be trading in line with expectations so far this year. As a result, WiseTech's new CEO, Zubin Appoo, has reaffirmed its guidance for FY 2026. He said:

Looking ahead, we reconfirm our guidance and expect revenue between $1.39 and $1.44 billion and EBITDA of $550 to $585 million. As outlined when we announced our FY25 Results in August, the e2open integration will temporarily impact margins – and that is exactly as planned.

We have a clear execution roadmap, backed by more than three decades of successfully integrating strategic acquisitions and rebuilding margin strength. We know how to do this. Through disciplined execution, cost alignment, and synergy realization, we will restore and expand our margin profile over the medium term.

At the event, WiseTech's founder, Richard White, spoke positively about the company's outlook. He said:

As we look ahead, I see a WiseTech that has increased its reach significantly, has access to larger addressable market with new adjacencies, is more innovative, more global, and more deeply embedded in the world's logistics processes and supply chains than ever before.

With Zubin leading a talented team, a renewed and diverse Board, and an unmatched product suite, we are focused on the opportunities ahead. As one of Australia's most successful global tech companies, and the leader in technology solutions for global trade and supply chain logistics, we're continuing to push the boundaries of innovation in one of the world's most vital industries, driving the next phase of our growth.

Shareholders won't have to wait long until there is a further update from the company.

It notes that on 3 December it will be holding its Investor Day. At the event, the company plans to provide more details on the next phase of its strategy. This includes the rollout of its new commercial model, and progress relating to Container Transport Optimization and the e2open integration.

Motley Fool contributor James Mickleboro has positions in WiseTech Global. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Nvidia and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool Australia has recommended Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Technology Shares

Man using a laptop next to the backside of server racks in a data centre.
Technology Shares

Nextdc vs Macquarie Technology Group: Which data centre share shines brighter?

With the Firmus IPO up in the air, investors may be looking at other ASX-listed data centre players.

Read more »

Man ponders a receipt as he looks at his laptop.
Technology Shares

Xero shares crash 63% in a year: Is there any upside left?

Are Xero shares a buy, sell, or hold?

Read more »

IT technician works on a laptop in big data centre full of rack servers.
Technology Shares

How the Firmus float just tanked this company's share price

Doubts about the massive data centre IPO are brewing.

Read more »

A woman holds up hands to compare two things with question marks above her hands.
Technology Shares

Life360 vs Droneshield: Which ASX tech stock is a better buy?

Weighing up Life360 vs Droneshield? Here’s which ASX tech share I’d buy right now, based on the latest numbers.

Read more »

Businesswoman working with laptop and documents in office, with virtual finance related graphs and charts.
Technology Shares

Could WiseTech shares be worth $50 again?

I look at whether forecast earnings growth could support a recovery from $32 to $50.

Read more »

A silhouette of a soldier flying a drone at sunset.
Technology Shares

Droneshield vs NextDC: Which ASX tech share is the better buy?

How do Droneshield and NextDC stack up? I compare fundamentals, valuations, and recent performance to help you pick the better…

Read more »

IT specialist using laptop in data centre full of server racks.
Technology Shares

Buy this ASX share to get exposure to the Firmus IPO

Data centre stocks are extremely hot right now.

Read more »

Two colleagues looking at a graph and comparing share prices.
Technology Shares

3 ASX 200 shares I'd buy and hold for the next decade

These shares have qualities that could make them great buy and hold picks.

Read more »