Goldman Sachs
June 29, 2026
Zalando SE Equity Research
Single Stock ReportEquitiesConsumer Discretionary
Goldman Sachs maintains a Buy rating on Zalando SE (ZALG.DE) with an unchanged price target of €44.00. The report provides 2H26 earnings revisions and high-frequency tracking ahead of the company's Q2 results.
Key Takeaways
- 1.Zalando maintains a Buy rating with a 12-month price target of €44.00, representing 76.6% upside.
- 2.FY26 adjusted EBIT forecast remains unchanged at €700mn, with revenue growth of 12.7% yoy.
Table of Contents
- High Frequency Zalando Trackers
- Financials
- Cash Flow and Valuation
- Disclosure Appendix
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Authors
Richard EdwardsBen WilliamsHamish Bogdan
Securities
ZALG.DE
Themes
Consumer demand and markdown activityE-commerce retail growth
Regions
EuropeGermany