Could this beaten-down ASX 200 stock double in the next 12 months?

The WiseTech Global Ltd (ASX: WTC) share price has continued to sink in 2026, with the stock trading at multi-year lows.

At the time of writing, shares are changing hands around $39.40, down more than 3% for the session. The stock is now sitting close to its 52-week low of $39 reached earlier today, and well below its 52-week high of $121.31.

This leaves WiseTech shares down more than 50% over the past year, placing it among the weaker performers in the ASX 200 tech space.

So, what has been driving the decline, and what would need to change for a recovery to take hold?

No single trigger behind the sell-off

The recent weakness has not been driven by one specific announcement.

Instead, the decline reflects a combination of broader tech sector pressure and company-specific concerns. Higher bond yields and valuation concerns have weighed on growth stocks, particularly those trading on elevated earnings multiples.

At the same time, WiseTech has faced ongoing scrutiny around execution, governance, and its strategic direction as it integrates acquisitions and expands its platform.

Broker price targets still above current levels

Despite the sell-off, broker price targets remain notably higher than the current share price.

Citi has cut its valuation to around $65.35 per share, while UBS has a target near $89. Bell Potter has set a target of approximately $83.75.

Macquarie remains more constructive, with a price target close to $97.70, while Morgan Stanley has previously pointed to levels above $100.

It’s worth noting that these estimates imply a very significant upside from current levels if the company can meet expectations.

Core business continues to expand

Operationally, the business continues to grow.

WiseTech’s CargoWise platform remains deeply embedded across the global logistics sector. Once integrated, customers face high switching costs, which supports recurring revenue and long-term retention.

The company has continued to expand through both organic growth and acquisitions, while also investing in automation and artificial intelligence (AI) to improve efficiency and broaden its offering.

This scalable model allows revenue to grow faster than costs over time, which has previously supported margins.

What would need to improve

For the share price to recover from here, several factors would likely need to align.

The company needs to demonstrate it can deliver consistent growth while integrating acquisitions and managing costs. Investor confidence will also need to stabilise following recent volatility and mixed broker sentiment.

In addition, confidence in long-term growth remains important, particularly as concerns around AI disruption and competition continue to weigh on sentiment.

Finally, market conditions for growth stocks would need to improve, as WiseTech remains sensitive to changes to interest rates and valuation levels.

The post Could this beaten-down ASX 200 stock double in the next 12 months? appeared first on The Motley Fool Australia.

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Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor Aaron Teboneras 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 Macquarie Group and WiseTech Global. The Motley Fool Australia has positions in and has recommended Macquarie Group and WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.