WiseTech Global Ltd (ASX: WTC) shares have bounced back strongly, rising 14% in April to finish the month at $42.72.
But zoom out, and the picture looks very different. Despite the recent rally, WiseTech shares are still down around 38% in 2026 and have lost more than half their value over the past 12 months.
So after such a sharp pullback — and a partial recovery — is the valuation finally attractive?
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A powerful platform with global reach
WiseTech's strength starts with its core product. Its CargoWise platform is deeply embedded in global logistics and supply chains. This isn't simple, plug-and-play software, it's mission-critical infrastructure for freight forwarders and logistics operators.
The company now serves more than 22,000 logistics businesses across 193 countries, including many of the world's largest players. That scale matters. Once customers are integrated into CargoWise, switching becomes difficult and costly. That creates a high level of customer stickiness, supporting recurring revenue and long-term growth.
WiseTech is also expanding its footprint. The acquisition of e2open has significantly broadened its network, connecting hundreds of thousands of enterprises across global trade.
AI: Threat or opportunity?
Artificial intelligence is one of the biggest questions hanging over WiseTech shares. Some investors worry it could disrupt software businesses. But the tech company appears to be leaning into it.
The business is embedding AI across its platform to improve automation, decision-making, and operational efficiency for customers. Internally, it is also using AI to boost productivity and reduce costs, with plans to reshape parts of the business over time.
There's a bigger strategic shift underway, too. WiseTech is moving toward a transaction-based model, where revenue is tied more closely to the value delivered rather than just user numbers.
If AI increases throughput and efficiency, it could actually enhance the value of the platform, not erode it. That potentially strengthens its competitive position and expands its long-term opportunity.
What do analysts think?
Despite the volatility, broker sentiment remains firmly positive on WiseTech shares.
Bell Potter has a buy rating on WiseTech with a $78.75 price target. Based on recent levels around $43.00, that implies close to 85% upside over the next 12 months.
The broader market agrees. According to TradingView data, 15 out of 17 analysts rate the stock as a buy or strong buy, with just two holds. The average price target sits near $77, also pointing to roughly 80% upside. At the bullish end, some forecasts go as high as $121.16, suggesting potential gains of more than 180%.
Foolish Takeaway
WiseTech shares have staged a strong short-term rebound, but remain well below previous highs.
The business still has a powerful platform, global reach, and emerging AI-driven opportunities. While risks remain, particularly around execution and market sentiment, the current valuation may be starting to look far more compelling than it did a year ago.
