ICICI Direct in its research report dated October 20, 2022 recommends a Hold rating on Sonata Software with a target price of Rs 520.
ICICI Direct's Research Report on Sonata Software
Sonata Software (Sonata) provides IT services (30%) and product licensing and deployment (70%). The company provides IT services to travel, retail, agriculture and commodities and manufacturing and software vendors • Net debt free and healthy double digit return ratio (with ROCE of > 30%).
Outlook
We maintain our hold rating on the stock. We value Sonata for FY25E EPS at Rs 520 i.e. 16x P/E.
Disclaimer: Views and investment tips expressed by investment experts/broking houses/rating agencies.
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