The WiseTech (ASX:WTC) share price is up over 40% in a month!

Let's take a closer look.

| More on:
A drawing of a white rocket streaking up, indicating a surging share pirce movement

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The share price of ASX tech company WiseTech Global Ltd (ASX: WTC) has been skyrocketing recently. Shares in the logistics software developer have risen close to 47% in the last month alone – and are now up almost 80% so far this year!

Let's take a look at some of the factors that may be driving these big gains in the WiseTech share price.

Company background

WiseTech's flagship product is a centralised global trade and logistics platform called CargoWise. The platform aims to give WiseTech's corporate customers the ability to manage their entire supply chain in one single application. For example, CargoWise can help its users stay on top of their inventory levels, track cargo internationally, and even ensure that they pay the correct import taxes, duties and tariffs.

WiseTech is no stranger to media attention. It forms part of the much-vaunted WAAAX group of ASX technology growth shares – along with fellow market darlings Altium Limited (ASX: ALU), Afterpay Ltd (ASX: APT), Appen Ltd (ASX:APX) and Xero Limited (ASX: XRO). However, the WiseTech share price has been the standout performer amongst the group so far this year and is the only one to have posted double-digit growth.

Recent financials

WiseTech released its FY21 results to the market on 25 August. It reported strong results across the board, with total revenues coming in at $507.5 million – an uplift of 18% year-on-year. This landed at the top end of WiseTech's previously issued guidance of between $470 million and $510 million.

Earnings before interest, tax, depreciation and amortisation expenses (EBITDA) came in at $206.7 million for the year. This was a year-on-year increase of over 60%, and easily exceeded WiseTech's guidance range of between $165 million and $190 million. The unexpectedly high uplift was driven by company-wide cost saving initiatives that WiseTech claimed had helped to deliver $22 million in gross cost reductions during the year.

Commenting on the result, WiseTech founder and CEO Richard White stated that "our top line revenue growth, coupled with our ability to implement organisation-wide efficiencies and extract acquisition synergies, has enabled us to achieve a marked step change in operating leverage that is evident in our strong FY21 financial performance."

Outlook

WiseTech is just as bullish about its prospects for FY22. The company forecasts annual revenue growth of between 18% and 25% (to between $600 million and $635 million) and EBITDA growth of between 26% and 38% (to between $260 million and $285 million). However, WiseTech does also note that the resurgence of COVID-19 variants in certain jurisdictions could pose a risk to those forecasts.

Recent moves in the WiseTech share price

The market reacted positively to WiseTech's FY21 results announcement. On the day WiseTech released its results, its share price jumped over 28% higher. While the WiseTech share price hasn't experienced any other single-day movements of that magnitude since, it has still trended higher overall in September, and is currently trading at $53.92 (as at the time of writing).

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Rhys Brock owns shares of AFTERPAY T FPO, Altium, Appen Ltd, and WiseTech Global. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Altium, Appen Ltd, WiseTech Global, and Xero. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, Altium, Appen Ltd, WiseTech Global, and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Gainers

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX shares finished the trading week on a high this Friday.

Read more »

A businessman stacks building blocks.
Technology Shares

6% gain! What's up with Block shares today?

Block shares are up more than 34% since 2 May.

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Share Gainers

Why ARB, Block, Mayne Pharma, and Paladin Energy shares are charging higher today

These shares are having a strong finish to the week. But why?

Read more »

A woman puts her hands up as she smashes and breaks through a glass ceiling.
Share Gainers

How these 5 ASX 200 stocks are smashing the benchmark this week

These fives ASX 200 stocks have made some very happy shareholders this week. Here’s how.

Read more »

A man looking at his laptop and thinking.
Share Gainers

Here are the top 10 ASX 200 shares today

The markets lost their steam this Thursday.

Read more »

Ecstatic woman looking at her phone outside with her fist pumped.
Share Gainers

Why Catapult, Hutchinson, SKS, and West African shares are pushing higher today

These shares are having a strong session despite the market weakness.

Read more »

Rising gold share price represented by a green arrow on piles of gold block.
Gold

Up 72% in 2025, why is this ASX 200 gold stock racing ahead of the benchmark again today?

Investors are bidding up this high-flying ASX 200 gold stock again on Thursday. But why?

Read more »

Businessman smiles with arms outstretched after receiving good news.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a wonderful Wednesday session for investors today.

Read more »