WiseTech Global Share Price Expected to Face Pressure After Largest Customer Signals Move Away from WiseTech Global's CargoWise, Jefferies Says

MT Newswires Live

05/13

WiseTech Global's (ASX:WTC) share price is expected to come under pressure after DSV, one of its largest customers, decided to consolidate its air and sea transport management systems, transitioning away from CargoWise, Jefferies said in a Tuesday note.

DSV confirmed its strategic shift from CargoWise to Schenker's Tango. However, this could be a multi-year journey, and DSV continues to migrate Schenker users into CargoWise.

DSV spends about $150 million per year on CargoWise, representing around 9% of WiseTech's revenue and around 10% of earnings before interest, taxes, depreciation, and amortization (EBITDA) in fiscal 2027.

The investment firm retained WiseTech Global's buy rating and AU$72 per share price target.

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