Zalando SE

ZAL: XHAN (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€88.00	Dksw	Qhmqfdjh

Zalando's Revenue Stalls and Profit Hit in 2022, but Long-Term Growth Intact As Shares Still Cheap

Jelena Sokolova

Mar 7, 2023

We don’t expect to make a material change to our EUR 65 fair value estimate for no-moat Zalando as we incorporate full-year 2022 results into our models. Despite more than doubling from last year’s lows, shares still present value, trading in 5-star territory at an almost 40% discount to our fair value estimate.

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