ICICI Direct has given Hold recommendation for Sonata Software with a target price of Rs. 915 in its research report issued on Aug 05, 2021

ICICI Direct’s research report on Sonata Software

Sonata Software (Sonata) offers IT services (30%) and product licensing & deployment (70%). The company provides IT services to travel, retail, agri & commodities, manufacturing and software vendors Net debt free and healthy double digit return ratio (with RoCE of >30%)


However, we downgrade the stock from BUY to HOLD We value Sonata at Rs 915 i.e. 21x P/E on FY23E EPS


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