Stock Pick

5 oversold ASX shares to buy before the end of April

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A couple sits on a sofa, each clutching their heads in horror and disbelief, while looking at a laptop screen.

I believe some of the best investment opportunities tend to show up after a sell-off.

When quality companies fall a long way from their highs, the starting point changes. That is where I start paying closer attention.

Here are five oversold ASX shares I would be looking at before the end of April.

CSL Ltd (ASX: CSL)

CSL is down more than 50% from its highs, which is a big move for a biotech company of this quality.

The business itself still has strong foundations. CSL Behring remains a leader in plasma therapies, and demand for those treatments continues to build over time.

What has changed is the price. After such a large pullback, I think CSL shares are starting to look much more interesting for long-term investors. If the company can rebuild momentum, this could be one of those periods that looks like an opportunity in hindsight.

Breville Group Ltd (ASX: BRG)

Breville has pulled back around 20%, which has taken some pressure out of its valuation.

This is a business that has successfully expanded outside Australia, and that is still driving its growth today. Its products continue to resonate in key markets like the US, which supports that trend.

At a lower share price, I think the setup looks more balanced. It still has room to grow, but you are no longer paying the same premium as before.

Xero Ltd (ASX: XRO)

Xero has fallen more than 50% from its highs alongside the broader sell-off in software stocks due to artificial intelligence (AI) disruption concerns.

The long-term shift toward cloud-based accounting is still playing out, and Xero remains one of the key platforms in that space.

And while AI will always be a risk, I think those concerns may be overstated and Xero still has many years of growth ahead. And after such a sharp decline, I think the risk-reward looks more favourable than it has in a long time.

WiseTech Global Ltd (ASX: WTC)

WiseTech is down more than 60% from its peak, which is a significant reset.

Its CargoWise platform is already embedded in global logistics, which gives it a strong position in how goods move around the world.

At this level, I think the sell-off is worth paying attention to. This is still a business with a large runway, but it is now being priced very differently to where it was at its peak.

Catapult Sports Ltd (ASX: CAT)

Catapult has pulled back close to 60% from its highs despite continuing to deliver strong results.

The sports technology business has been shifting toward a subscription-based model, which should support more consistent revenue over time.

I think the interesting part here is how the company is evolving. As data becomes more important in sport, Catapult has a chance to deepen its role with teams rather than just expand its customer base.

At this much lower share price, I think it is one ASX share that could deliver strong returns if it continues to execute successfully.

Foolish takeaway

A big pullback does not guarantee a good investment, but it can change the starting point.

These ASX shares all have strong growth potential and are now trading well below their previous highs. That is why I think they are worth a closer look before the end of April.

The post 5 oversold ASX shares to buy before the end of April appeared first on The Motley Fool Australia.

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Motley Fool contributor Grace Alvino has positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Catapult Sports, WiseTech Global, and Xero. The Motley Fool Australia has positions in and has recommended Catapult Sports, WiseTech Global, and Xero. The Motley Fool Australia has recommended CSL. 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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