JPMorgan keeps Neutral rating for Zalando stock

Published on 10/06/2026 at 13:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

JPMorgan sets a EUR 32.00 Neutral view for Zalando stock. It costs EUR 22.26 on October 6, 2026, minus 0.22 percent versus EUR 22.31.

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Zalando (ISIN DE000ZAL1111) was trading at EUR 22.26 at Lang & Schwarz on October 6, 2026 at 1:06 p.m. CEST, down 0.22 percent from the prior close of EUR 22.31. On September 30, 2026, JPMorgan kept its Neutral rating and EUR 32.00 price target for Zalando, putting the target 43.76 percent above the Lang & Schwarz price.

JPMorgan keeps a cautious view

According to Finanznachrichten on September 30, 2026, analyst Georgina Johanan expects Zalando to deliver an operating result of EUR 101.0 million in the third quarter of 2026. The source also identifies agentic artificial intelligence as a continuing risk for the company.

The EUR 32.00 target is EUR 9.74 above the current Lang & Schwarz price. Expressed against the target, the price stands 30.44 percent below it, a materially wider gap than the daily move of minus 0.22 percent.

November report sets the next test

JPMorgan's note names November 3, 2026, as the date for Zalando's third-quarter report. That date gives the market a defined checkpoint for testing the EUR 101.0 million operating-result forecast and the Neutral assessment.

The latest company figures provide scale for that test. Zalando's investor-relations page reports 2025 revenue of EUR 12.3 billion, gross merchandise volume of EUR 17.6 billion, adjusted EBIT of EUR 590.7 million and 62 million active customers, according to Zalando.

Stock remains below its yearly high

The Lang & Schwarz price of EUR 22.26 sits within the 52-week range of EUR 18.61 to EUR 34.20. The midpoint of that range is EUR 26.41, leaving the current price EUR 4.15 below the midpoint and showing how much the market's valuation has narrowed from the yearly peak.

Zalando's market capitalization was EUR 5.4 billion on October 6, 2026. The combination of a EUR 32.00 analyst target, a scheduled November 3 report and the latest operating scale makes the third-quarter margin outcome the key near-term figure.

EUR 22.26 in afternoon trading

Zalando was trading at EUR 22.26 at Lang & Schwarz on October 6, 2026 at 1:06 p.m. CEST, minus 0.22 percent versus the Lang & Schwarz prior close of EUR 22.31. The further course of trading is shown by the continuously updated real-time quote of Zalando stock.