The past few months have been tough going for growth investors. Market volatility, global uncertainty, and a rotation out of high-growth names have pushed a number of previously high-flying ASX shares sharply lower.

But while falling prices can feel uncomfortable in the moment, they can also open the door to compelling long-term opportunities — especially when the underlying businesses remain strong.

Here are three ASX growth shares that have tumbled 30% or more from their highs and could be worth considering while they're trading at a discount according to analysts. They are as follows:

Lovisa Holdings Ltd (ASX: LOV)

Fast-fashion jewellery retailer Lovisa has seen its shares fall 35% from recent highs, despite continued expansion and strong same-store sales momentum.

The selloff appears to be driven by broader market volatility and concerns around its leadership succession, as the company transitions to a new CEO. But with a proven global rollout model, strong unit economics, and disciplined cost control, Lovisa remains one of the more compelling retail growth stories on the ASX.

It is for this reason that the team at Morgans currently has an add rating and $35.00 price target on the ASX growth share.

Nextdc Ltd (ASX: NXT)

Data centre operator Nextdc has seen its shares fall by 37% from their 52-week high. This is despite the company being well placed to benefit from surging demand for digital infrastructure.

As cloud computing, AI, and enterprise data usage expand, so too does the need for reliable, scalable data centre capacity — exactly what Nextdc provides. The company is investing heavily in new capacity across the Asia-Pacific region and has a strong pipeline of contracted revenue.

While the market has punished high-capex growth stories in the current environment, Nextdc remains one of the best pure-play exposures to digital transformation on the ASX. With long-term tailwinds firmly intact, the recent weakness could prove to be an attractive buying opportunity.

The team at UBS is very positive on the company's outlook and has put a buy rating and $19.20 price target on its shares.

WiseTech Global Ltd (ASX: WTC)

Another ASX growth share that has taken an almighty tumble is WiseTech. The logistics solutions platform provider's shares have dropped more than 40% from their 52-week high.

They have been caught in the broader tech selloff and weighed down by a recent leadership controversy. This saw its founder Richard White ultimately agree to step down as CEO but will remain on as executive chair. These internal distractions also led to delays in a key product rollout, impacting near term revenue and earnings.

While the headlines have been a short-term drag on sentiment, WiseTech's core business remains robust. The company continues to dominate global logistics software through its CargoWise platform and has a long runway for growth as supply chains digitise globally.

It is for this reason that Goldman Sachs has been urging investors to buy its shares. It has a buy rating and $128.00 price target on them.