These ASX 50 shares have lost up to 60%. Is the sell-off overdone?

Four heavyweight S&P/ASX 50 shares have been hammered over the past 12 months, falling between 30% and 60%. Each share has faced different challenges, but brokers still see substantial upside in several names.

Xero delivered FY26 operating revenue of NZ$2.75 billion, up 31%, while annualised monthly recurring revenue jumped 37% to NZ$3.27 billion, adding 506,000 customers during the year. Meanwhile, WiseTech reported a 46% increase in EBITDA to US$558.4 million for FY26, despite experiencing significant volatility and falling approximately 60% over 12 months.

Pro Medicus delivered FY26 revenue growth of 22.9% to $261.7 million, although its share was impacted by AI concerns. REA Group increased its FY26 revenue by 7% to $1.79 billion while net profit fell 19%, and warned that new national buy listings for FY27 could be flat to down by low single digits.

Brokers remain divided with varying ratings and price targets across these shares. While several institutions maintain buy recommendations with potential upside expectations, others remain more cautious regarding the business outlooks.