Top 2 undervalued ASX tech stocks to buy now

The following two ASX stocks have been heavily beaten down but their high switching costs and ability to generate attractive returns on capital could make current valuations an appealing opportunity for investors.

Catapult Sports Limited (ASX: CAT) 

Catapult Sports Limited (ASX: CAT) has delivered an excellent FY26 result which is why it is one of the most undervalued ASX technology stocks right now as it has had a 44% decline in its share price over the past 12 months.

The company maintained its leadership in athlete monitoring and performance analytics and now serves more than 5,500 teams across over 100 countries. Annual Contract Value (ACV) increased 28% year-on-year on a constant currency basis to US$133.8 million.
Revenue also rose 19% to US$140.7 million which reflects strong demand for the company's software and data-based solutions.

Management EBITDA reached a record US$24.7 million as it increased by US$10 million from the previous year due to scale benefits and stronger operating leverage.
Its Performance & Health segment recorded solid growth after adding a record number of new customers during the year while current market capitalisation is only $1.02 billion.

Growth was even stronger in the Tactics & Coaching division after the integration of IMPECT and sustained demand for the Pro Video Suite which shows the company is increasing both its customer base and revenue per customer.

The investment case has become more compelling with the launch of Vector 8, AI-powered insights, MatchTracker enhancements, Focus Live and the new Perch camera platform which are aimed at improving coaching efficiency and athlete performance.

Catapult ended FY26 with more than $53 million in cash and no debt and an expanding portfolio of AI-powered products which has positioned it to create substantial shareholder value.

WiseTech Global Limited (ASX: WTC) 

WiseTech Global Limited (ASX: WTC) is one of the most undervalued ASX technology stocks as its share price has declined almost 66% over the past 12 months which has left the company with a current market capitalisation of $12.46 billion.

The global logistics software leader delivered a strong 1H26 performance as total revenue increased 76% year-on-year to US$672 million which was supported by CargoWise growth and the transformative acquisition of e2open.
CargoWise revenue rose 12% to US$372.4 million while recurring revenue accounted for an impressive 95% of total revenue which highlights the stability and predictability of the company's business model.

Profitability also remained solid as EBITDA increased 31% to US$252.1 million while Free cash flow grew 24% to US$153.6 million which demonstrates the company's ability to turn revenue growth into strong cash generation.

The company reported underlying NPAT of US$114.5 million which was 2% higher than the previous corresponding period. Underlying EPS also increased 2% which reflects continued profitability despite significant integration work and acquisition-related expenses.
WiseTech is integrating artificial intelligence across its products and operations to improve customer productivity and further widen its competitive advantages.

Recent progress has been positive with around 95% of CargoWise customers now operating under the new CargoWise Value Packs model which is expected to support future AI-related monetisation opportunities.

Management is focused on expanding its global logistics and trade ecosystem while increasing customer penetration which positions the company for value creation as global supply chains become more digital and interconnected.

(Source: Company Announcements)