Zalando stock gains 3.25 percent as Deutsche Bank keeps Buy

Published on 09/30/2026 at 13:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Deutsche Bank retained a EUR 35.00 target on September 30, 2026, despite margin pressure. Q2 adjusted EBIT rose 10.00 percent to EUR 205.00 million.

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Zalando stock (ISIN DE000ZAL1111) was trading at EUR 22.57 at Lang & Schwarz on September 30, 2026, up 3.25 percent from the prior close of EUR 21.86. According to finanzen.ch on September 30, 2026, Deutsche Bank Research kept its Buy rating and EUR 35.00 price target, while pointing to continuing margin pressure in the consumer business.

Deutsche Bank keeps EUR 35 target

The target stands EUR 12.43 above the Lang & Schwarz price, equal to 55.07 percent above EUR 22.57. The analyst view therefore combines a positive valuation stance with a clear warning on profitability, rather than relying only on Zalando's recent share price gain.

The same finanzen.ch report said Zalando had gained 2.30 percent to EUR 22.37 in Xetra trading at 11:21 a.m. CEST on September 30, 2026, and cited a planned Q3 reporting date of November 3, 2026.

Q2 growth meets margin pressure

According to Yahoo Finance in the Q2 2026 earnings transcript, adjusted EBIT increased 10.00 percent year over year to EUR 205.00 million. The adjusted EBIT margin nevertheless declined from 6.50 percent to 6.00 percent after the consolidation of ABOUT YOU.

The growth mix is changing quickly. B2B revenue reached EUR 335.00 million in Q2 2026, up 27.60 percent year over year, while group revenue growth was 1.10 percent on a pro forma basis, according to Yahoo Finance. The contrast matters: faster B2B expansion supports profitability, but the platform model can reduce reported revenue growth because Zalando earns commissions instead of the full merchandise value.

Stock remains below yearly high

Zalando's Lang & Schwarz market capitalization was EUR 5.5 billion on September 30, 2026. The 52-week range was EUR 18.61 to EUR 30.43, placing the reference price EUR 7.86 below the high and EUR 3.96 above the low. The stock therefore remains closer to its yearly low than its yearly peak, even after the 3.25 percent daily gain.

EUR 22.57 in afternoon trading

At 1:04 p.m. CEST on September 30, 2026, Zalando stock was trading at EUR 22.57 at Lang & Schwarz, plus 3.25 percent versus the prior close of EUR 21.86. The combination of a EUR 35.00 Deutsche Bank target, Q2 adjusted EBIT growth of 10.00 percent and a 6.00 percent margin puts profitability at the center of the next earnings test.