There's no two ways about it, WiseTech Global Ltd (ASX: WTC) shares have had a year to forget.
Shares in the S&P/ASX 200 Index (ASX: XJO) logistics software solutions company were recently trading for $31.55 apiece.
That sees the share price down a steep 71.1% over 12 months, compared to a 2.6% gain posted by the benchmark index over this same period.
Much of the pressure has been driven by investor concerns over the broader outlook for Software as a Service (SaaS) stocks. Spcifically that artificial intelligence, or AI, could potentially replace a lot of the services these companies currently provide.
You may have heard this referred to as the 'SaaSpocalypse'.
And ongoing leadership issues certainly haven't benefited WiseTech shares either.
Just last week, the ASX 200 tech stock came under renewed selling pressure following media reports that founder and executive chairman Richard White is under investigation by the Australian Federal Police. The police are reported to be investigating White over allegedly exploiting a female employee's immigration status and financial position and providing false information on a visa application.
But with this news having broken, and the stock having suffered a huge fall over the last 12 months, is now the time to buy?
Image source: Getty Images
Should I buy WiseTech shares today?
Medallion Financial Group's Stuart Bromley recently analysed the outlook for the embattled ASX tech stock (courtesy of The Bull).
"Despite ongoing management and governance scrutiny, WiseTech remains one of Australia's highest quality technology businesses with a dominant position in global logistics software," Bromley noted.
"The company's CargoWise platform continues to gain market share globally," he added.
Summarising his hold recommendation in WiseTech shares, Bromley concluded:
In our view, WTC offers a substantial long-term growth opportunity. While near term sentiment may remain volatile, we believe the quality of the underlying business warrants a hold rating amid management executing its long-term strategy.
What's happening with CargoWise?
As Bromley mentioned above, WiseTech shares should get some longer-term support from the company's growing CargoWise platform.
At the company's half-year results (H1 FY 2026), released on 25 February, WiseTech reported a 12% year-on-year increase (9% organically) in CargoWise revenue to $372.4 million. Management attributed much of the growth to demand from existing customers, including Large Global Freight Forwarder (LGFF) rollouts.
Commenting on the strength of the platform on the day, WiseTech CEO, Zubin Appoo said:
Our new commercial model is now live, with CargoWise Value Packs rolled out to approximately 95% of CargoWise customers and Container Transport Optimization is in the process of implementation with our launch partner ACFS.
