ASX tech shares enjoyed a welcome hike on Tuesday as investors returned to the tech sector after a sharp sell-off late last month.
The S&P/ASX 200 Information Technology Index (ASX: XIJ) jumped about 3.3% in morning trade, before easing to close the day 1.94% higher.
Here are four ASX tech shares which helped push the index higher today, and they're all tipped to keep rocketing over the next 12 months.
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Life360 Inc. (ASX: 360)
Life360 shares crashed 18% this time last week, off the back of its FY25 financial results. But on Tuesday the stock staged an impressive turnaround as its investors came flooding back. The ASX tech stock's share price ended the day over 10% higher. There has been no price-sensitive news from the company today to explain the share price spike.
TradingView data shows that most analysts are extremely optimistic about Life360's outlook over the next 12 months, with the majority holding a buy or strong buy rating. The maximum target price is $50.94 which implies the shares could rocket 126.29% over the next 12 months.
WiseTech Global Ltd (ASX: WTC)
WiseTech shares have been firmly in the spotlight over the past six months after the logistics software company faced several huge headwinds which sent its value crashing. Since posting an impressive half-year result in late-February, the ASX tech share has recovered nearly 20% of its share price value. Perhaps investor sentiment is finally turning a corner for WiseTech?
Most analysts have a strong buy rating on the tech stock, with a maximum target price of $123.83 over the next 12 months. Even after the latest, that implies a huge 142.43% upside for investors at the time of writing.
Weebit Nano Ltd (ASX: WBT)
The semiconductor memory technology developer and licensor's shares rebounded on Tuesday as ASX tech shares come back into favour with investors. Late last year, the company said it had made an "exceptionally strong" start to the financial year with record quarterly customer payments and good growth potential. Weebit benefits from strong demand for its product, and with very few comparable companies, it is well-positioned to dominate the memory technology space.
Analysts are tipping a 84.53% upside over the next 12 months, to $8.71 per share.
NextDC Ltd (ASX: NXT)
NextDC was one of few ASX 200 tech shares to finish the day slightly lower on Tuesday. While it didn't contribute to the ASX tech index's growth for the day, I think there is plenty of potential for the stock to rocket higher over the next 12 months.
Nextdc operates a rapidly expanding network of data centres for cloud computing, telecommunications, and AI workloads. It also has physical infrastructure, such as power, cooling and security, and also offers project support. As data usage continues growing, demand for its network and infrastructure will likely rise too. Analysts are bullish on the stock and expect the shares could hike up to 143.29% over the next 12 months, to $31.02 a piece.
