Deutsche Bank keeps Buy rating for Zalando stock

Published on 10/01/2026 at 16:16 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Deutsche Bank set a EUR 35.00 target on September 30, 2026. Zalando stock costs EUR 22.46 on October 1, 2026 versus EUR 22.65, minus 0.84 percent.

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Zalando (ISIN DE000ZAL1111) was at EUR 22.46 at Lang & Schwarz on October 1, 2026 at 4:05 p.m. CEST, down 0.84 percent versus the prior close of EUR 22.65. Deutsche Bank Research maintained its Buy rating and EUR 35.00 price target on September 30, 2026, giving the stock a fresh analyst benchmark as the company approaches its next quarterly report.

Deutsche Bank keeps its target

As Markets Insider reported on September 30, 2026, analyst Adam Cochrane retained the Buy rating and EUR 35.00 target. The recommendation came with a caution: Deutsche Bank said consumer-facing margin pressure remained relevant ahead of the quarterly report.

The target is EUR 12.54 above the Lang & Schwarz price, or 55.83 percent above EUR 22.46. That comparison matters because the target and reference price are both denominated in euros, while the company still has to demonstrate that its growth can translate into durable profitability.

Growth meets a lower margin

Zalando's latest reported figures cover the second quarter and first half of 2026. According to Yahoo Finance, first-half reported revenue grew 22.20 percent year over year and adjusted EBIT rose 16.10 percent to EUR 270.0 million. In the second quarter, adjusted EBIT reached EUR 205.0 million, up 10.00 percent year over year, while the adjusted EBIT margin declined to 6.00 percent from 6.50 percent.

The figures show the central tradeoff in the current setup. B2B revenue reached EUR 335.0 million in the second quarter, up 27.60 percent on a reported basis, but the integration of ABOUT YOU diluted the group margin. Management narrowed full-year adjusted EBIT guidance to EUR 680.0 million to EUR 720.0 million and expects GMV and revenue growth in the lower half of the previous 12.00 percent to 17.00 percent range, according to the same August 4, 2026 earnings-call transcript.

Stock below its yearly high

At EUR 22.46, Zalando stock stood 26.19 percent below its 52-week high of EUR 30.43 and EUR 3.85 above its 52-week low of EUR 18.61 on October 1, 2026. The market capitalization was EUR 5.5 billion, while trading volume stood at 257,602 shares in the latest Xetra quote.

The next scheduled report is the third-quarter 2026 earnings release on November 3, 2026, as listed in current company-market information. The coming update will test whether B2B growth and ABOUT YOU synergies can offset softer sneaker demand and the temporary margin dilution described in the second-quarter call.

EUR 22.46 remains below the high

Zalando was trading at EUR 22.46 at Lang & Schwarz on October 1, 2026 at 4:05 p.m. CEST, down 0.84 percent versus the prior close of EUR 22.65. The further course of trading is shown by the continuously updated real-time quote of Zalando stock.