JPMorgan keeps Neutral on Zalando stock with EUR 32.00 target

Published on 10/05/2026 at 13:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adjusted EBIT reached EUR 205.0 million in Q2 2026, up 10.00 percent. Zalando stock costs EUR 22.34 on October 5, 2026 versus EUR 22.28.

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Zalando (ISIN DE000ZAL1111) was trading at EUR 22.34 at Lang & Schwarz on October 5, 2026 at 1:02 p.m. CEST, up 0.27 percent versus the EUR 22.28 prior close. The latest analyst signal came on October 1, when JPMorgan kept its Neutral rating and a EUR 32.00 price target, according to finanzen.net.

JPMorgan sees EUR 32.00 target

JPMorgan analyst Georgina Johanan estimated Zalando's operating result at EUR 101.0 million for the third quarter of 2026 ahead of the report scheduled for November 3, 2026. The analyst also highlighted the continuing risk from agentic artificial intelligence, keeping the Neutral view and leaving the target at EUR 32.00, according to finanzen.net.

Q2 profit grows while margin narrows

Zalando reported adjusted EBIT of EUR 205.0 million in the second quarter of 2026, an increase of 10.00 percent from the prior-year period. The adjusted EBIT margin fell to 6.00 percent from 6.50 percent as the consolidation of ABOUT YOU diluted group profitability, according to Yahoo Finance.

The first-half picture was stronger on growth. Adjusted EBIT reached EUR 270.0 million, up 16.00 percent year over year, while management narrowed adjusted EBIT guidance for 2026 to EUR 680.0 million to EUR 720.0 million. The same earnings call reported 22.20 percent revenue growth and 21.00 percent gross merchandise volume growth for the first half of 2026, according to Yahoo Finance. The contrast matters: operating profit is expanding faster than the current margin, while the ABOUT YOU integration remains a measurable profitability factor.

November 3 sets the next test

Zalando is scheduled to publish third-quarter 2026 results on November 3, 2026, according to finanzen.net. That date gives investors a concrete checkpoint for the EUR 101.0 million operating-result estimate and for evidence that the narrowed full-year range remains achievable.

Zalando stock stays below its yearly high

Zalando's market capitalization was EUR 5.4 billion on October 5, 2026, while its 52-week range stood at EUR 18.61 to EUR 30.43. The Lang & Schwarz quote was EUR 22.34 in trading at 1:02 p.m. CEST on October 5, 2026, plus 0.27 percent versus the EUR 22.28 prior close at Lang & Schwarz on October 2, 2026. The further course of trading is shown by the continuously updated real-time quote of Zalando stock.