2 ASX shares tipped to grow 60% or more in the next 12 months

These ASX shares may be significantly undervalued, according to forecasts.

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The best ASX share opportunities to buy today may not be some of the most famous opportunities. They could be significantly undervalued, according to experts.

The two businesses I want to highlight are names that have fallen heavily in the last few months. But analysts suggest the companies could rise significantly in the next year.

Let's look at two of the ideas that could deliver dramatic market-beating returns.

Two plants grow in jars filled with coins.

Image source: Getty Images

Objective Corporation Ltd (ASX: OCL)

Objective Corporation says that thousands of public sector organisations are shifting to digital operations using Objective software. It says that it has more than 1,000 customers with a 99% customer retention rate. Impressively, the business invests significantly in research and development each year.

According to CMC Invest, there have been six recent analyst ratings on the business, with four of those being a buy and two being a hold.

A price target is where analysts think the share price will be in 12 months from now.

Of those six ratings, the average price target is $17.70. That suggests a possible rise of around 60% over the next year, from where it is at the time of writing.

The ASX share's financials are growing at a pleasing pace. In the FY26 half-year result, revenue grew by 9% to $66.7 million and net profit after tax (NPAT) climbed 10% to $18.7 million.

Its growth remains promising – HY26 annual recurring revenue (ARR) increased by 12% to $120 million. The business is expecting its FY26 ARR growth to be between 10% and 14%. I think many ASX shares would be pleased with that level of growth.  

With the Objective Corporation share price down by around 40% in the last six months, it looks much better value.

Adairs Ltd (ASX: ADH)

Adairs sells furniture and homewares across three different businesses – Adairs, Mocka, and Focus on Furniture.

According to CMC Invest, there have been six recent ratings on the business, with three buy ratings and three hold ratings.

The average price target on the business from those six ratings is $2.02. That implies a possible rise of 65% from where it is today, though that may be an optimistic view amid the rising interest rate environment, which may impact retail spending.

The latest we heard from the business of its performance was for the first seven weeks of the second half of FY26, though this was before all of the various impacts seen over the last few months that could impact the sales.

At the time of the FY26 half-year result, it said it expects margin and underlying operating profit (EBIT) growth in the second half. While the short term may be uncertain, I think the longer term could prove to be positive for the ASX share.

It looks a lot cheaper to me after falling more than 50% in the last 12 months.

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Adairs and Objective. The Motley Fool Australia has positions in and has recommended Adairs and Objective. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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