Shares of WiseTech Global Ltd, a leading provider of logistics software, closed lower on Tuesday, February 17, 2026, surrendering some of the dramatic gains notched just a day earlier. The stock finished the session at A$47.34, a decline of 1.6%. This followed a volatile trading day where the price had initially plunged more than 5% before buyers stepped in to pare the majority of those losses. Intraday, the stock swung between A$45.41 and A$47.46.
Tech Sector Momentum Fades
The pullback in WiseTech coincided with a broader cooling in the Australian technology sector. On Monday, the sector had surged 5.6% in a powerful relief rally, with WiseTech itself skyrocketing 12.9%. However, that momentum proved short-lived as the group gave up 0.8% on Tuesday. This left the S&P/ASX 200 index to climb a modest 0.24%, driven primarily by strength in materials and resources stocks.
Heavyweight miner BHP Group Ltd was a standout, jumping 5.6% following the release of its own half-year financial results. Its gains provided crucial support to the benchmark index, offsetting weakness in technology names. Market activity was somewhat muted due to the closure of U.S. markets for the Presidents Day holiday.
Earnings and AI Concerns Loom Large
Investor focus is now squarely on WiseTech's upcoming half-year financial report, scheduled for release on February 25. The results will provide a critical update on the performance of its core CargoWise platform, which serves freight forwarders and global logistics operators. The stock is often viewed as a bellwether for high-growth software companies and tends to move in tandem with shifts in market sentiment toward the sector.
Analysts remain watchful. Citigroup maintains a buy rating on WiseTech with a price target of A$109.15, signaling significant long-term confidence. However, the current market environment is marked by caution. Deutsche Bank analysts, led by Adrian Cox, have described conditions as a "sniper's alley," where investors are quick to sell any sector perceived as vulnerable to disruption from artificial intelligence. Their view summarizes the skittish mood: "In the case of doubt, investors are selling."
Broader Market Context
The fragility of the recent tech rebound is a central theme. If global technology shares face renewed selling pressure, or if Australian companies strike a cautious tone as the February reporting season progresses, buyers could retreat rapidly. This would leave stocks like WiseTech exposed to another wave of selling. The market is also anticipating earnings reports from other major Australian firms, including The Lottery Corp, Santos, and Suncorp.
WiseTech's performance highlights the ongoing tension in equity markets between relief over oversold conditions and persistent worries about fundamental challenges, including how AI might impact software business models, pricing power, and future growth trajectories. The company's forthcoming earnings will be a key test of its resilience and growth narrative in this uncertain climate.
