Zalando SE

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Original-Research: Zalando SE - from Quirin Privatbank Kapitalmarktgeschäft

05.08.2026 / 10:02 CET/CEST

Dissemination of a Research, transmitted by EQS News - a service of EQS

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Classification of Quirin Privatbank Kapitalmarktgeschäft to Zalando SE

Company Name: Zalando SE

ISIN: DE000ZAL1111

Reason for the research: update

Recommendation: Buy

from: 05.08.2026

Target price: 34.40

Last rating change:

Analyst: Ralf Marinoni

Q2-26: fall in share price exaggerated

With the publication of its H1-26 results, the company revised its revenue

outlook for the current year down to the lower end of the guidance range -

in line with consensus estimates. We consider yesterday's sell-off to have

been excessive, particularly as the average adjusted EBIT remained

unchanged. We therefore reaffirm our Buy recommendation with a target price

of EUR 34.40.

You can download the research here:

https://nwr.eqs-cockpit.com/fncls2.ssx?fn=redirect&u=ab141061163b8ab1fd0b7c5ec7488c64

For additional information visit our website:

https://research.quirinprivatbank.de/

Contact for questions:

Quirin Privatbank AG

Institutionelles Research

Schillerstraße 20

60313 Frankfurt am Main

research@quirinprivatbank.de

https://research.quirinprivatbank.de/

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2377866 05.08.2026 CET/CEST

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