Xero Ltd (ASX: XRO) and Zip Co Ltd (ASX: ZIP) are two of the largest fintech shares listed on the ASX.
Xero stands out for its cloud accounting and financial software, sticky subscriber base, and huge growth opportunities.
Meanwhile, buy now, pay later (BNPL) provider, Zip, stands out for its financially sound business model and aggressive expansion plans.
The other thing the two ASX 200 tech shares have in common is that they've both been smashed by an ongoing sector-wide sell-off, which sent their share prices crashing earlier this year.
But over the past month, the tide has turned for one of these tech powerhouses, and investors are reaping the rewards.
Let's take a look.
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Which ASX tech stock has made investors richer over the past month?
Technology and growth shares have also come under renewed pressure recently as investors reassess valuations and risk appetite.
Both Xero and Zip shares suffered a share price crash late last year which continued through to early-2026.
While both stocks are still significantly lower than trading levels one year ago, when looking at the past month alone, Xero shares have far outperformed Zip shares.
Xero shares fell to around a seven-year low of $61.58 in late July, but have rebounded strongly since. At the time of writing, the shares have recovered around 32% from that point and are changing hands for $81.17 a piece. They're also up 19% over the past month.
Zip shares have had a much more volatile run. The shares dipped to an annual low of $1.45 in late-March and have rebounded around 79% ever since. But over the past month, the shares have started falling again and are now down around 10%.
What do brokers tip next for Xero shares?
It looks like Xero shares are expected to continue their latest growth rally.
TradingView data shows that the majority (13 out of 15) have a buy/strong buy rating on Xero shares over the next 12 months.
The average $128.56 target price implies a potential 58% upside ahead, at the time of writing. But some think the shares have the potential to jump as much as 197% to $241.36 by this time next year.
What do brokers tip next for Zip shares?
While Zip shares have lagged behind Xero over the past month, the good news is that analyst forecasts are pretty similar.
TradingView data shows that the experts are also very bullish on the outlook for Zip shares. The majority (12 out of 13) have a buy/strong buy rating on the shares.
The average $4.19 target price implies a potential 61% upside over the next 12 months. Although some think that Zip shares could increase another 115% to $5.59, at the time of writing.
