WiseTech Global Ltd (ASX: WTC) shares are making a serious comeback attempt.
WiseTech shares surged 4.8% to $43.06 on Friday morning, extending their monthly gain to a remarkable 23%. The rally helped push the S&P/ASX 200 Information Technology Index (ASX: XTX) 1.4% higher, making it the best-performing sector of the S&P/ASX 200 Index (ASX: XJO) at the time of writing.
But don't get carried away just yet. WiseTech shares remain 37% lower year to date and down 63% over the past 12 months.
So, could this rally be the beginning of something much bigger?
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Is WiseTech's comeback for real?
The collapse in WiseTech shares has been painful, but its underlying business remains remarkably strong.
Its flagship CargoWise platform remains a leading logistics software solution, helping freight forwarders, customs brokers, and supply chain operators manage increasingly complex global trade.
The company is also exposed to powerful long-term trends, including the digitalisation of global trade and growing demand for sophisticated logistics technology.
Crucially, WiseTech's problems haven't primarily been about collapsing demand for its products. Instead, investor confidence and governance concerns have been major drivers of the sell-off.
That could make the upcoming 26 August FY26 results particularly important.
Management has reaffirmed guidance for revenue of US$1.39 billion to US$1.44 billion, representing growth of 79% to 85%. EBITDA is forecast at US$550 million to US$585 million, up 44% to 53% from FY25.
If WiseTech delivers, investors may finally start looking beyond the governance drama and back towards its growth story.
What do brokers think?
The broker community appears relatively bullish.
TradingView data shows 11 of 14 analysts have a buy or strong buy rating on WiseTech shares. The average price target of $60.61 implies potential upside of around 41% over the next 12 months.
The most bullish target is an eye-catching $114.11, implying potential upside of approximately 165%.
Bell Potter has a buy rating and $71.75 price target. Its analysts believe several headwinds weighing on WiseTech could begin to dissipate, particularly following the appointment of Raelene Murphy as chair.
Meanwhile, Macquarie has a buy rating and $47.10 price target. The broker recently suggested WiseTech could "surprise to the upside" with its FY27 guidance, although it remains cautious about persistent tariffs and regulatory issues.
Could WiseTech shares really rebound?
The bull case is certainly becoming harder to ignore. A strong FY26 result and upbeat FY27 outlook could provide the catalyst investors need to reconsider WiseTech's battered valuation.
But with the shares still facing significant governance, regulatory, and execution risks, this is hardly a risk-free comeback story.
For WiseTech investors, 26 August could be the day the comeback either gathers serious momentum — or runs out of steam.
