ICICI Direct has given Hold recommendation for Sonata Software with a target price of Rs. 575 in its research report issued on Sep 08, 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%).

Outlook

Hence, we revise our target price to Rs 575/share post this corporate action. We maintain our HOLD rating on the stock and value Sonata based on 17x P/E on FY24 EPS.

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