JPMorgan keeps Neutral rating for Zalando stock

Published on 10/02/2026 at 13:59 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Zalando stock costs EUR 22.24 on October 2, 2026 versus EUR 22.28. Adjusted EBIT rose 16.00 percent to EUR 270 million in the first half of 2026.

Isometrisches 3D Low-Poly Logistikzentrum mit Förderbändern und niedlichen Lagerrobotern — Zalando SE (DE000ZAL1111) – isometrisches Low-Poly-Logistikzentrum mit gelben Förderbändern und autonomen Lager-Robotern, Illustration mit AI erstellt.

Zalando (ISIN DE000ZAL1111) was trading at EUR 22.24 at Lang & Schwarz on October 2, 2026 at 1:47 p.m. CEST, down 0.18 percent versus the prior close of EUR 22.28. According to finanzen.net on September 30, 2026, JPMorgan kept its Neutral rating and EUR 32.00 price target for Zalando.

JPMorgan sees a EUR 32 target

The target leaves a EUR 9.76 gap above the Lang & Schwarz price, while the rating points to a measured view of the shares ahead of the next results. JPMorgan analyst Georgina Johanan also expects third-quarter operating profit of EUR 101 million, according to finanzen.net.

Profit growth meets narrower outlook

Zalando delivered adjusted EBIT of EUR 270 million in the first half of 2026, an increase of 16.00 percent from the prior-year period. Group revenue increased more than 22.00 percent year over year, while reported gross merchandise volume grew 21.00 percent, according to the company's Q2 earnings call transcript published by Yahoo Finance on August 4, 2026.

The comparison is more nuanced at quarterly level. Second-quarter adjusted EBIT reached EUR 205 million, up 10.00 percent year over year, but the adjusted EBIT margin fell to 6.00 percent from 6.50 percent after the consolidation of ABOUT YOU, according to Yahoo Finance. Management narrowed full-year adjusted EBIT guidance to EUR 680 million-EUR 720 million and expects GMV and revenue growth in the lower half of the original 12.00 percent-17.00 percent range.

Stock remains below its yearly high

At EUR 22.24, Zalando trades 26.91 percent below its 52-week high of EUR 30.43 and 19.49 percent above its 52-week low of EUR 18.61. The finance data snapshot puts market capitalization at EUR 5.4 billion as of October 2, 2026, giving the analyst target and the earnings outlook a clear valuation context.

Deutsche Boerse identifies Zalando SE as the Xetra-listed security with ticker ZAL and ISIN DE000ZAL1111. The company is scheduled to publish third-quarter 2026 results on November 3, 2026, according to finanzen.net.

Zalando stock stays below EUR 30.43

Zalando was trading at EUR 22.24 at Lang & Schwarz on October 2, 2026 at 1:47 p.m. CEST, down 0.18 percent versus the Lang & Schwarz prior close of EUR 22.28. The further course of trading is shown by the continuously updated real-time quote of Zalando stock.