Zalando stock trades 28.26 percent below its yearly high

Published on 09/28/2026 at 15:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Zalando stock was at EUR 21.83 on September 28, 2026, 28.26 percent below its 52-week high. Q2 revenue reached EUR 3.1 billion.

Karton mit orangem Innenfutter, Strickpullover und Lederstiefeletten auf Holztisch — Zalando SE (DE000ZAL1111) – geöffneter Karton mit orangefarbenem Seidenpapier und modischer Kleidung auf rustikalem Holztisch, Illustration mit AI erstellt.

Zalando (ISIN DE000ZAL1111) was trading at EUR 21.83 on Xetra on September 28, 2026 at 3:01 p.m. CEST, down 0.91 percent from the prior close of EUR 22.03. The stock stood 28.26 percent below its 52-week high of EUR 30.43, putting the emphasis on execution rather than a simple recovery narrative.

Q2 growth meets tighter guidance

In its Q2 2026 earnings call published August 4, 2026, Yahoo Finance reported that Zalando generated EUR 3.1 billion in Q2 revenue and EUR 205 million in adjusted EBIT. The adjusted EBIT margin was 6.00 percent, compared with 6.50 percent in the prior-year quarter.

The operating picture was stronger in selected areas. Reported GMV increased 20.70 percent in Q2 to EUR 4.9 billion, while B2B revenue rose 27.60 percent to EUR 335 million. B2B adjusted EBIT reached EUR 41 million, compared with EUR 11 million a year earlier.

Analysts see value above the market

Zalando also narrowed its 2026 outlook after first-half performance. The company now expects GMV and revenue growth in the lower half of the previous 12.00 percent-17.00 percent range, while adjusted EBIT guidance stands at EUR 680 million-EUR 720 million.

The main counterweight is demand in sneakers, which management described as broadly soft in the Q2 call. At the same time, first-half reported revenue growth reached 22.20 percent and adjusted EBIT increased 16.10 percent year over year to EUR 270 million, giving the guidance change a more nuanced operating context.

UBS analyst Yashraj Rajani retained a Buy rating and a EUR 35.00 price target on September 16, 2026, according to MarketScreener. The target is EUR 13.17 above the Xetra price in this snapshot, a 60.33 percent premium, while the company still has to convert B2B expansion and ABOUT YOU synergies into durable margins.

Stock remains below its yearly high

Zalando stock had a market capitalization of EUR 5.3 billion and volume of 278,937 shares at the September 28, 2026 snapshot. Its Xetra session range was EUR 21.64-EUR 22.20, against a 52-week range of EUR 18.61-EUR 30.43.