ICICI Direct has given Buy recommendation for Sonata Software with a target price of Rs. 900 in its research report issued on May 04, 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 maintain BUY rating on the stock. We value Sonata at Rs 900 i.e. 20x P/E on FY24E EPS.