ICICI Direct has given Hold recommendation for Sonata Software with a target price of Rs. 770 in its research report issued on Jul 28, 2022
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 and manufacturing and software vendors • Net debt free and healthy double digit return ratio (with RoCE of >30%).
We revised rating to HOLD from BUY on the stock. We value Sonata at Rs 770 i.e. 17x P/E on FY24E EPS.