WiseTech Global Ltd (ASX: WTC) shares have jumped further into the green in Thursday morning trade.
At the time of writing, the technology shares are up around 1.5% and changing hands at $47.85 per share.
Today's increase means WiseTech shares have now climbed around 41% over the past month and are 53% higher than six weeks ago on the 1st of October.
However, they're still down roughly 30% year to date.
Image source: Getty Images
What caused the latest share price rally?
The single largest catalyst was when the Australian Securities and Investments Commission (ASIC) closed two investigations involving the company and its personnel in mid-October.
These include share-trading investigations into founder Richard White and two current employees. ASIC has issued no-action letters confirming it will not pursue enforcement action against those individuals.
ASIC also concluded a separate governance investigation that began in late 2024, confirming that no enforcement action will be taken against WiseTech.
It looks like the update has cleared the governance overhang and concerns that have weighed heavily on the company's underlying business over the past two years.
Meanwhile, a broad rotation back into technology shares so far in November has also helped give WiseTech shares another boost.
Tech shares have rallied strongly after the US midterm election results reignited hopes for conflict resolution in the Middle East, which could ease inflation pressure.
Can the shares climb even higher?
I think there is a good chance the shares could double again over the next year.
The company is financially sound, and I think that, with these latest headwinds removed, there is room to rally higher.
In August, WiseTech reported a 46% increase in its EBITDA for FY26, which was in line with previous guidance.
And looking ahead, the company is guiding total revenue growth between 6% and 10% for FY27, and underlying EBITDA growth between 12% and 21%, with a margin uplift to 49% to 51%.
Combine this growth potential with the company's dominant market position in the global logistics market and removal of most governance concerns, and I think the shares could rebound back to 2025 levels.
What do analysts tip next for WiseTech shares?
It looks like the experts are confident that WiseTech shares can bounce back over the next 12 months.
TradingView data also shows the majority (12 out of 17) have a buy/strong buy rating on WiseTech shares. Another five rate it as a hold.
The average target price is $59.12, implying about a 24% upside at the time of writing.
But some of the more bullish experts tip WiseTech shares to rocket to $101.42 over the next 12 months. That implies a 112% upside at the time of writing.
That's more than double the trading price at the time of writing and would push the shares over the $100 barrier for the first time since late-August 2025.
