Got $10,000 to invest in May? Here are 2 ASX tech shares to buy

Two ASX tech shares have been quietly climbing higher in recent weeks. Shares in NextDC Ltd (ASX: NXT) are up 23% over the past month, while WiseTech Global Ltd (ASX: WTC) has gained around 10%.

Even more interesting, brokers see significant upside ahead — in some cases as much as 165% over the next 12 months.

So, could now be the time to put $10,000 to work?

NextDC: Powering the digital boom

This roughly $10 billion ASX tech share sits at the heart of Australia’s digital infrastructure boom. As demand for cloud computing, artificial intelligence, and data storage accelerates, the company’s network of data centres is becoming increasingly critical.

NextDC provides secure, high-performance facilities that allow businesses to store and process vast amounts of data. Its customer base includes major enterprises, cloud providers, and government agencies, many of which sign long-term contracts. This creates recurring revenue streams and a relatively stable earnings base.

The structural tailwinds are strong. AI workloads and cloud adoption are driving a step-change in data usage, and that plays directly into NextDC’s expansion plans. However, growth does not come cheaply. Data centres are capital-intensive, requiring significant upfront investment. This can weigh on short-term earnings and make the business sensitive to funding conditions.

Competition is another factor, as global players continue to invest heavily in the space.

Despite these risks, brokers remain upbeat. Consensus estimates point to an average 12-month price target of around $20.20, implying roughly 43% upside from current levels. At the bullish end, some forecasts suggest gains of up to 125%. Analysts at Citigroup recently retained a buy rating on the ASX tech share and lifted their price target to $19.10, signalling potential upside of about 35%.

WiseTech: Global leader in logistic software

Turning to WiseTech Global, the logistics software specialist has also endured volatility but continues to attract strong support from analysts.

WiseTech’s flagship CargoWise platform is deeply embedded in global supply chains, helping freight forwarders and logistics providers manage complex international operations. This integration creates high switching costs and supports recurring revenue growth.

The ASX tech share is also leaning into artificial intelligence, embedding it across its platform to improve automation, efficiency, and decision-making. If successful, this could enhance the value of its software and strengthen its competitive position.

Still, risks remain. Like many high-growth tech companies, WiseTech faces execution challenges as it scales, and any slowdown in global trade could impact demand.

Even so, broker sentiment remains firmly positive. Bell Potter has a buy rating and a $78.75 price target on the stock. Based on recent levels around $43.50, that implies 80% upside over the next year.

Across the market, the average price target for the ASX tech share sits near $77, suggesting around 75% upside. At the more bullish end, some forecasts climb as high as $115.85, pointing to potential gains of nearly 165%.

The post Got $10,000 to invest in May? Here are 2 ASX tech shares to buy appeared first on The Motley Fool Australia.

More reading

• NEXTDC secures $1.8bn in new senior debt to boost liquidity
• 2 ASX shares highly recommended to buy: Experts
• 3 reasons to buy WiseTech shares in May
• 10 excellent ASX shares to buy in May
• Brokers name 3 ASX shares to buy right now

Motley Fool contributor Marc Van Dinther has positions in WiseTech Global. 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.