This ASX tech stock has delivered more twists and turns than a last-minute finals thriller this past year.
Between January and October, Catapult Sports Ltd (ASX: CAT) rocketed more than 110%, only decline 45% from its peak. At the time of writing, the shares sit at $4.14, down 11% for the month.
The wild ride reflects both the promise and the growing pains of a business still learning how to turn global reach into reliable profits. But beneath the share price noise, Catapult is quietly building something substantial.
Growing international footprint
The Melbourne-based ASX tech stock is best known for its wearable GPS trackers and performance analytics. Its footprint in the US and Europe is growing rapidly. More elite teams in the NBA, the Premier League, and top-tier rugby competitions are using Catapult's tech.
Catapult has also been busy on the acquisition trail. It snapped up strength-training specialist Perch and recently acquired German analytics firm Impect GmbH. The last takeover is to sharpen its edge in elite soccer scouting and data analysis. These deals fit neatly into the ambition of the ASX tech stock to become the global operating system for professional sports.
Fundamentally, things look solid. Annualised contract value jumped 19% to US$115.8 million, contract sizes are rising, and customers now stick around for almost eight years. Still, fears of dilution, integration risk, and a broader tech sell-off spooked some investors.
Small player, exploding arena
What really makes Catapult pop over the long haul is just how big the prize is compared to where it's sitting today. The ASX tech share is still a small player in a very large arena and that arena is getting bigger fast.
The global professional sports tech market is tipped to surge through the rest of the decade. Data, analytics, and performance tracking is shifting from "nice to have" to absolute must-haves across more sports, leagues, and competitions.
As mentioned here, Bell Potter highlights that "the pro sports technology market is currently valued at US$36 billion in 2025 and is forecast to double to US$72 billion by 2030." This is great news for the ASX tech stock, especially since being a market leader.
Buy, hold or sell?
Analysts remain upbeat on the ASX tech stock. Their average 12-month target of $6.74 implies a juicy 63% upside from here. The most bullish prediction sees the share price go to $7.73, a potential surge of 87%.
The team at Morgans thinks that this sports technology company's shares could be one of the strong performers in 2026.
Analysts of the broker have put a buy rating and $6.25 price target on the ASX share. Based on its current share price of $4.14, this implies potential upside of 50% for investors over the next 12 months.
