When will WiseTech shares bottom out?
WiseTech Global Ltd (ASX:WTC) shares have been one of the most painful holdings on the ASX over the past year.
The logistics software company was once an undisputed market darling. Today, it is a battleground stock.
So when will WiseTech shares finally bottom out?
Let's dig in.
Why WiseTech shares have crashed
The damage for ASX investors has been severe.
WiseTech shares are down roughly 50% in 2026 and around 70% over the past 12 months.
They remain a long way below their 52-week high of $121.31.
Curiously, the problem is not the underlying business, as demand for WiseTech's CargoWise platform remains solid. As a result, the company is still profitable and still growing.
The real issue is governance.
Investors grew uneasy about scrutiny surrounding founder Richard White. Recent reports have emerged of an Australian Federal Police investigation into White. The allegations centre on claims that he exploited a woman's immigration and financial situation and provided false information on a visa application.
The complaint reportedly came from a former WiseTech cleaner.
Markets can cope with bad news, but what they cannot stand is uncertainty. This uncertainty has weighed heavily on WiseTech shares.
It is also not the first time White has been caught up in scandal. He previously stepped down as CEO after a wave or reports about secret relationshps with women linked to the company. Another scandal involved allegations that he used company shares and company-related arrangements in ways that were not fully transparent.
What could help WiseTech shares bottom out?
A few things would need to fall into place.
First, the company has moved to clean up its governance. White stepped down as Chair, although he remains on the board as an Executive Director. Raelene Murphy has taken over as Independent Chair.
Bell Potter views that appointment as a positive move. The broker has retained a buy rating and $71.75 price target on WiseTech shares, arguing that the stock looks cheap on an FY27 EV/EBITDA multiple of around 15 times.
That compares to roughly 27 times for rival TechnologyOne Ltd (ASX: TNE).
Second, investors want proof in the numbers, and the FY26 full-year result in August looms as a key catalyst.
A solid result with reassuring FY27 guidance could help the shares find a floor. Resolution of the legal matters surrounding White would help, too.
Until then, expect the volatility to continue.
Foolish takeaway
So, when will WiseTech shares bottom out?
Nobody can call the exact low.
The business itself still looks strong, and brokers see substantial upside from here, but sentiment will likely stay volatile until the governance cloud lifts.
For patient investors, the coming FY26 result could be the moment WiseTech shares finally turn a corner.
The post When will WiseTech shares bottom out? appeared first on The Motley Fool Australia.
Motley Fool contributor Mark Verhoeven 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 WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. 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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