ICICI Direct has given Buy recommendation for Sonata Software recommended buy rating on the stock with a target price of Rs 1050 in its research rep with a target price of Rs. 1050 in its research report issued on Jan 18, 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

We maintain BUY rating on the stock. We value Sonata at Rs 1,050 i.e. 21x P/E on FY24E EPS.

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