Megaport and Catapult climb as All Ordinaries slips; brokers tip 68% upside for Megaport

Australian shares fell again on Thursday morning, but two ASX All Ordinaries stocks went the other way. The S&P/ASX All Ordinaries Index was down 0.44% at the time of writing, continuing a run of seven consecutive daily declines amid investor worries about rising inflation and interest rates.

Megaport gained 3.42% to $9.37. The stock has rebounded 40% from an annual low of $6.71 earlier this month, though it remains 24% lower year to date and 18% down from this time last year. The company was caught up in the sector-wide sell-off in late 2025 and early 2026, as investors fretted that artificial intelligence could disrupt traditional software models and reduce demand for subscription-based products.

High expectations and heavy acquisition spending also raised concerns about near-term costs and profits. According to Market Index data, brokers have a strong buy rating on Megaport and tip a 68% upside to $15.74 over the next 12 months. Catapult advanced 1.56% to $3.26.

Despite Thursday’s rise, the shares have shed 56% of their value since hitting an all-time high in late October and remain down 24% year to date and 20% over the past 12 months. The company reported a 50% jump in operating profit in its half-year results shortly after that peak, but the result appeared to fall short of expectations, prompting a wave of selling.

The global sports data firm was then swept up in the broader tech sell-off and was removed from the S&P/ASX 200 in March as part of the quarterly rebalance. It looks like sentiment shifted last month after Catapult’s trading update pointed to a 27% to 28% expected increase in closing annual contract value for FY26 and a predicted 50% year-on-year increase in EBITDA.

The two stocks were among the session’s gainers even as the broader market remained under pressure.