7 ASX tech stocks rated a Strong Buy (including two that could double)

Investors are always on the lookout for signals to validate their thesis, and there's not better than seeing it actually play it on the charts. 

After months in the red, I’m now proud to say that my modest position in Betashares' Australian Technology ETF (ASX: ATEC) is finally in the green. If that's not proof of a genuine recovery in the ASX tech sector, I don't know what is. 

After the threat of AI decimated the Australian and global software sector, the so-called SaaSpocalypse shows signs of abating. 

Between October 2025 and March 2026, the Aussie tech sector shed 50% of its value, with many notable tech stocks falling even further. 

Now the tide may be turning. The S&P/ASX 200 Information Technology (XIJ) index is already up more than 20% from its March low, and many Australian fund managers are also backing ASX tech.

In last week's Buy Hold Sell, Jun Bei Liu and James Gerrish gave their ratings on ASX tech stocks that have already started bouncing back and all received at least one Buy rating, with none receiving a Sell. 

Seneca Financial Solutions' Luke Laretive also recently explained why its funds are now overweight ASX tech.

Bell Potter is even calling for a potential SaaSurrection, with global software stocks like Salesforce posting strong results.

But if software stocks are poised to recover, which are the ones most likely to bounce back? Here are 7 ASX tech stocks the brokers are rating a Strong Buy.

ASX tech stocks to Buy

These are the ASX tech stocks that are currently rated a Strong Buy based on Market Index's Broker Consensus tool.

1. Xero (ASX: XRO)

• Ratings: 6 Buys, 1 Hold, 0 Sells
• Consensus price target: $141.56
• Upside potential: 93%

Like all the stocks on this list, accounting software company Xero has seen heavy selling as a result of the perceived threat of AI to its SaaS business model. 

But according to a Macquarie note, Xero has an AI-proof moat that LLM models cannot replicate. 

"When building AI products, models are replaceable (LLMs are open-source), Xero's (XRO) proprietary data and context are not," the note said. 

Broker consensus is targeting a XRO share price of $141.56, almost double its current price, which shows the extent of the ASX software selloff and the potential opportunities on offer. 

Citi has argued the stock looks highly undervalued given the company is growing at more than 20% per annum, and forecasting even stronger growth through to FY28. 

Macquarie is targeting a share price of $235.80, suggesting upside potential of 323%, and cites Xero's strong US growth as the key catalyst.

"Xero's organic US engine is accelerating, with ex-Melio revenue up ~30% YoY and organic subscriber net adds of ~43k over the last six months (vs ~30k pcp)."

2. Catapult Sports (ASX: CAT)

• Ratings: 6 Buys, 0 Holds, 0 Sells
• Consensus price target: $5.36
• Upside potential: 72%

Sports analytics company Catapult's recent FY26 results delivered impressive numbers across the board. FY26 revenue was up 21% to a record US$141m, management EBITDA was up 67% and annualised contract value (ACV) grew 18% year-on-year. 

But like many of its peers, CAT had declined 60% since October, and now offers 72% upside potential based on broker consensus. 

The company remains on track to meet the "Rule of 40" benchmark, where annual revenue growth rate and profit margin add up to more than 40%. 

Morgan Stanley recently upgraded its price target to $5.20, due to growth tracking ahead of expectations and recent acquisitions looking to help facilitate that growth. 

3. Life360 (ASX: 360) 

• Ratings: 4 Buys, 0 Holds, 0 Sells
• Consensus price target: $32.05
• Upside potential: 41%

US-based family safety app Life360 is another ASX SaaS stock showing promising signs of recovery after giving up all its recent gains since the end of last year. 

It's still down 30% year-to-date, despite bouncing 25% over the last month, leaving it an attractive valuation, according to Market Partners' James Gerrish.

As he explained in the recent episode of Buy Hold Sell, "now's the time to buy these stocks when they're on their knees."

Ausbil's Nicholas Condeleon picked Life360 as his top stock idea at the 2026 Morgan Stanley summit, citing 17% market penetration in the US and expected growth in paid subscriber revenue. 

Bell Potter analyst Chris Savage recently wrote that Life360's 1Q26 result was broadly positive, but that the market focused on a single negative - low global MAU growth.  

"The market seemed to ignore most or all of the positives (e.g. guidance upgrade) and one in particular – very strong paying circle growth (201k vs BPe 99k)," Savage wrote.

But he expects sentiment to shift once future results show continued growth. 

"We expect similarly strong paying circle growth in each of Q2, Q3 and Q4 and, given this is the key driver of revenue growth, we believe market focus will shift to this positive rather than the negative of any weakness in MAU growth."

At current prices, the consensus price target suggests 41% upside, with modest downgrades and upgrades based on the recent results. 

4. WiseTech Global (ASX: WTC)

• Ratings: 6 Buys, 1 Hold, 0 Sells
• Consensus price target: $72.39
• Upside potential: 93%

Supply chain software company WiseTech has seen its fair share of controversy, and recently started its massive redundancy program in which 2,000 jobs will be cut.

The company cited AI as a key reason for the layoffs, and has seen difficulty in migrating some customers to its CargoWise platform and is also transitioning to a transaction-based pricing model.

On Buy Hold Sell, Jun Bei Liu said WiseTech was making strides on freight forwarding, costs and growing its addressable market, but instead investors are taking a glass half empty view. "The market's pricing a lot of pessimism about what's going to happen."

Bell Potter's Savage said it had made small downgrades to CargoWise revenue forecasts but similarly said these issues may already be priced in.

"We have downgraded our FY26, FY27 and FY28 revenue forecasts by 1%, 2% and 3% which has mostly been driven by reductions in our CargoWise revenue forecasts," wrote Savage. 

"We now forecast FY26 EBITDA of US$561m which is still above the bottom end of the US$550-585m guidance range."

Consensus price target is $72.30, almost double the current share price, with Macquarie targeting a price of $97.70, suggesting upside potential of 262% from current prices. 

But WTC did recently receive a downgrade from JPMorgan from "overweight" to "neutral", with a revised price target of $40, down from $75. 

5. HUB24 (ASX: HUB) 

• Ratings: 6 Buys, 2 Holds, 0 Sells
• Consensus price target: $107.78
• Upside potential: 31%

Investment management platform HUB24's 1HFY26 results showed record inflows and a 60% rise in underlying NPAT as the company continues to capitalise on the growth in Australia's financial advice industry.  

The stock has fared much better than many of the others on this list, but broker consensus suggests it may be able to reclaim its record high of around $110.

Morgan Stanley says it is offering "durable demographic tailwinds", leadership positions and earnings visibility against a valuation that has now dropped below its long-term average. It is targeting a share price of $120, while Citi is also positive, citing strong structural growth despite some pressures on margins from lower cash balances in 2H26. 

Ord Minnett believes HUB24, alongside other wealth platforms, should continue to win superannuation market share, and is forecasting strong EPS growth through to FY28. 

It is rated Neutral by UBS and Macquarie, with the latter highlighting solid momentum and market share gains, but targeting a price of $94.70 against a current price of $82.

6. Pro Medicus (ASX: PME)

• Ratings: 5 Buys, 1 Hold, 0 Sells
• Consensus price target: $193.92
• Upside potential: 18%

One of the ASX's best performers in recent years, Pro Medicus has also been caught in the AI-driven software selloff, despite showing impressive results in customer retention and extension. 

On Buy Hold Sell, James Gerrish said PME was arguably an unwitting victim of the broad correction across software stocks. 

"In this SaaSpocalypse, everything's been sold down indiscriminately... PME's been caught up in that downdraft."

In the same episode, Jun Bei Liu described it as "probably the highest-quality growth business here in Australia," and cited its contract wins and broader growth. 

Goldman Sachs have also cited its longer contract wins and renewals across its US customer base, while Ord Minnett consider it a "net winner" from AI, given how it can monetise its own algorithms and embed itself within the healthcare market. 

According to Macquarie, Pro Medicus's "recent contract velocity/size has reminded the market of Visage's resilience against fears of AI disruption to contract length and value."

PME has shed 50% since its 2025 peak, after years of strong price performance drove it to elevated multiples, and is now offering solid upside potential of 18%, according to broker consensus. 

7. Technology One (ASX: TNE)

• Ratings: 6 Buys, 0 Holds, 0 Sells
• Consensus price target: $32.38
• Upside potential: 5%

Rounding out the list is Australia's largest enterprise SaaS company, which has arguably shown the most recovery strength, having jumped 50% off its recent lows.

Its H1 result was broadly inline and FY26 guidance reaffirmed, but JPMorgan said a revenue miss had been overstated by the market. UK ARR growth slowed from 50% to 23%, but was on track to hit 16-18% ARR growth. 

Ord Minnett said TNE's SaaS+ business was tracking ahead of forecast, and Macquarie cited increased customer adoption of AI-enabled modules as a key growth driver. 

According to Bell Potter, Technology One could be one of the few obvious winners of AI. 

"There is perhaps a lack of short term catalysts for the stock but we believe the stock should continue to perform well given it is in our view the best positioned tech stock on the ASX to benefit from rather than be disrupted by AI."

At current prices, TNE is offering a modest 5% upside based on broker consensus.