Overview
Zalando SE is a leading European online fashion and lifestyle platform, offering a wide range of apparel, footwear, and accessories from both renowned brands and emerging designers. The company focuses on delivering a seamless shopping experience through its user-friendly digital platform and exceptional customer service.
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Basic Stats
The share price of Zalando SE as of 10 July 2025 is € 28,90 / share. The market cap (or net worth) of Zalando SE as of 10 July 2025 is € 7.522,67 MM.
The Factor Analysis chart (below right) shows a view of Zalando SE from a variety of lenses. Each factor shows how well the company ranks against all other companies in the Fintel global investing universe. Factor scores range from zero to 100, with 100 being most desirable, and 50 being average.
For example, a company with a Value Score of 100 would be the most undervalued company in our database. A company with a Value Score of zero would be the most overvalued.
| Market Cap | 7,522.67 MM |
| EV | 6,062.55 MM |
| Shares Out. | 260.30 MM |
| Earnings Date | |
| EPS (TTM) | 1.09 |
| Dividend Yield | |
| Ex-Dividend Date | |
| Borrow Rate | 0.54 |
| Short Shares Avail. | 0.70 MM |
| Short Interest | |
| Short Float | |
| Days to Cover | |
| Risk Free Rate | 4.04 % |
| Price Change (1 yr) | |
| Volatility (1 yr) | 0.13 |
| Beta | 1.92 |
| Sharpe Ratio (1 yr) | |
| Sortino Ratio (1 yr) |
| PE Ratio | 26.50 |
| Price/Book | 2.66 |
| Price/TBV | 3.13 |
| Book/Market | 0.38 |
| EBIT/EV | 0.07 |
| EBIT(3yr avg)/EV | 0.04 |
| ROA | 0.03 |
| ROE | 0.11 |
| ROIC | 0.06 |
| CROIC | -0.08 |
| OCROIC | 0.14 |
| Implied Volatility | |
| Put/Call OI Ratio |
| Growth | |
| Profitability | |
| Quality Score | |
| Value Score | |
| Momentum Score | |
| Stability (Low Vol) Score | 94.36 /100 |
| Analyst Sentiment | 73.06 /100 |
| Fund Sentiment | |
| Insider Sentiment | |
| Officer Sentiment | |
| Dividend Score | |
| QVM Score | |
| Piotroski F-SCORE | 7.00 /9 |
Factor Scores range from 0 to 100, with 100 being most desirable. Larger circles are better. In situations where we have no data (e.g. no insider trades), we plot the score at 50 to avoid penalizing companies. However, a company that does not pay dividends will get a Dividend Score of Zero. Additionally, we inverted volatility to create a "stability" metric which is better when higher.
Price Target
The average one-year price target for Zalando SE is € 37,23. The forecasts range from a low of € 23,22 to a high of € 49,33. A stock’s price target is the price at which analysts consider it fairly valued with respect to its projected earnings and historical earnings. Analysts typically set price targets that correspond to their buy or sell recommendations.
Update Frequency: Monthly
Stock Upgrades/Downgrades
This card shows analyst upgrades/downgrades for Zalando SE. An analyst rating is a classification that gives investors a sense of analyst sentiment about the direction and performance of an equity - usually a stock - over a period of time, typically 12 months.
The standard analyst ratings are generally as follows:
- Buy/Overweight/Outperform - Any of these ratings conveys an analyst’s belief that the stock is likely to outperform a market index (e.g. the S&P 500).
- Hold/Equal-Weight/Market Perform - Any of these ratings conveys an analyst’s belief that the stock is likely to perform in line with a market index.
- Sell/Underweight/Underperform - Any of these ratings suggest that an analyst believes the stock is likely to underperform a market index.
When an analyst upgrades a stock, they are signaling that the company’s fundamentals are being undervalued by investors. It could also mean they believe the market is underestimating the company’s potential. The opposite is true when a stock receives a downgrade.
The average rating of each individual analyst’s rating is the consensus rating for a stock. This gives investors a broader sense of the overall sentiment for that stock.
| Date | Analyst | Prior | Latest Recommendation |
Action |
|---|---|---|---|---|
| 2023-12-22 | BRYAN GARNIER | Buy | Buy | Maintains |
| 2023-12-20 | WARBURG RESEARCH GMBH | Buy | Buy | Maintains |
| 2023-12-06 | BNP PARIBAS EXANE | Outperform | Outperform | Maintains |
| 2023-11-27 | HSBC | Hold | Buy | Upgrade |
| 2023-11-21 | REDBURN ATLANTIC | Buy | Buy | Maintains |
| 2023-11-14 | CAIXABANK BPI | Buy | Buy | Maintains |
| 2023-11-07 | DZ BANK | Hold | Hold | Maintains |
| 2023-11-07 | BERENBERG | Hold | Hold | Maintains |
| 2023-11-03 | HAUCK AUFHAEUSER INVESTMENT BANKING | Buy | Buy | Maintains |
| 2023-11-02 | ODDO BHF | Buy | Buy | Maintains |
| 2023-11-02 | LIBERUM | Buy | Buy | Maintains |
| 2023-11-02 | BAADER HELVEA EQUITY RESEARCH | Buy | Buy | Maintains |
| 2023-11-02 | STIFEL EUROPE | Buy | Buy | Maintains |
| 2023-11-02 | SOCIETE GENERALE | Buy | Buy | Maintains |
| 2023-10-11 | CRISPIDEA PRIVATE LIMITED | Buy | Buy | Maintains |
| 2023-08-31 | HAUCK AUFHAEUSER INVESTMENT BANKING | Buy | Buy | Maintains |
| 2023-08-30 | HAUCK AUFHAEUSER INVESTMENT BANKING | Buy | Buy | Maintains |
| 2023-08-28 | HSBC | Buy | Hold | Downgrade |
| 2023-08-27 | HSBC | Buy | Hold | Downgrade |
| 2023-08-14 | REDBURN ATLANTIC | Buy | Buy | Maintains |
| 2023-08-14 | BNP PARIBAS EXANE | Outperform | Outperform | Maintains |
| 2023-08-13 | REDBURN ATLANTIC | Buy | Buy | Maintains |
| 2023-08-13 | BNP PARIBAS EXANE | Outperform | Outperform | Maintains |
| 2023-08-09 | QUIRIN PRIVATBANK AG | Buy | Buy | Maintains |
| 2023-08-08 | QUIRIN PRIVATBANK AG | Buy | Buy | Maintains |
| 2023-08-08 | LANDESBANK BADEN-WUERTTEMBERG | Hold | Hold | Maintains |
| 2023-08-07 | LANDESBANK BADEN-WUERTTEMBERG | Hold | Hold | Maintains |
| 2023-08-04 | BRYAN GARNIER | Buy | Buy | Maintains |
| 2023-08-04 | STIFEL EUROPE | Buy | Buy | Maintains |
| 2023-08-03 | BRYAN GARNIER | Buy | Buy | Maintains |
| 2023-08-03 | STIFEL EUROPE | Buy | Buy | Maintains |
| 2023-08-03 | ODDO BHF | Buy | Buy | Maintains |
| 2023-08-03 | CREDIT SUISSE - EUROPE | Outperform | Outperform | Maintains |
| 2023-08-03 | SRH ALSTERRESEARCH AG | Hold | Hold | Maintains |
| 2023-08-03 | BAADER HELVEA EQUITY RESEARCH | Buy | Buy | Maintains |
| 2023-08-03 | WARBURG RESEARCH GMBH | Buy | Buy | Maintains |
| 2023-08-03 | SOCIETE GENERALE | Buy | Buy | Maintains |
| 2023-08-02 | ODDO BHF | Buy | Buy | Maintains |
| 2023-08-02 | CREDIT SUISSE - EUROPE | Outperform | Outperform | Maintains |
| 2023-08-02 | SRH ALSTERRESEARCH AG | Hold | Hold | Maintains |
| 2023-08-02 | BAADER HELVEA EQUITY RESEARCH | Buy | Buy | Maintains |
| 2023-08-02 | WARBURG RESEARCH GMBH | Buy | Buy | Maintains |
| 2023-08-02 | SOCIETE GENERALE | Buy | Buy | Maintains |
| 2023-07-19 | CAIXABANK BPI | Buy | Buy | Maintains |
| 2023-07-18 | CAIXABANK BPI | Buy | Buy | Maintains |
| 2023-07-17 | CRISPIDEA PRIVATE LIMITED | Buy | Buy | Maintains |
| 2023-07-16 | CRISPIDEA PRIVATE LIMITED | Buy | Buy | Maintains |
| 2023-06-09 | DZ BANK | Hold | Hold | Maintains |
| 2023-06-08 | DZ BANK | Hold | Hold | Maintains |
| 2023-06-06 | HAUCK AUFHAEUSER INVESTMENT BANKING | Buy | Buy | Maintains |
| 2023-06-06 | CAIXABANK BPI | Neutral | Buy | Upgrade |
| 2023-06-05 | HAUCK AUFHAEUSER INVESTMENT BANKING | Buy | Buy | Maintains |
| 2023-06-05 | CAIXABANK BPI | Neutral | Buy | Upgrade |
| 2023-06-05 | BNP PARIBAS EXANE | Neutral | Outperform | Upgrade |
| 2023-06-04 | BNP PARIBAS EXANE | Neutral | Outperform | Upgrade |
| 2023-05-31 | REDBURN LIMITED | Buy | Buy | Maintains |
| 2023-05-30 | REDBURN LIMITED | Buy | Buy | Maintains |
| 2023-05-25 | SRH ALSTERRESEARCH AG | Buy | Hold | Downgrade |
| 2023-05-24 | SRH ALSTERRESEARCH AG | Buy | Hold | Downgrade |
| 2023-05-23 | BRYAN GARNIER | Sell | Buy | Upgrade |
| 2023-05-22 | BRYAN GARNIER | Sell | Buy | Upgrade |
| 2023-05-22 | HSBC | Hold | Buy | Upgrade |
| 2023-05-21 | HSBC | Hold | Buy | Upgrade |
| 2023-05-10 | LANDESBANK BADEN-WUERTTEMBERG | Buy | Hold | Downgrade |
| 2023-05-09 | LANDESBANK BADEN-WUERTTEMBERG | Buy | Hold | Downgrade |
| 2023-05-09 | WARBURG RESEARCH GMBH | Hold | Buy | Upgrade |
| 2023-05-08 | WARBURG RESEARCH GMBH | Hold | Buy | Upgrade |
| 2023-05-05 | CREDIT SUISSE - EUROPE | Neutral | Outperform | Upgrade |
| 2023-05-05 | QUIRIN PRIVATBANK AG | Buy | Buy | Maintains |
| 2023-05-04 | CREDIT SUISSE - EUROPE | Neutral | Outperform | Upgrade |
| 2023-05-04 | QUIRIN PRIVATBANK AG | Buy | Buy | Maintains |
| 2023-05-04 | ODDO BHF | Buy | Buy | Maintains |
| 2023-05-04 | BAADER HELVEA EQUITY RESEARCH | Buy | Buy | Maintains |
| 2023-05-04 | STIFEL EUROPE | Buy | Buy | Maintains |
| 2023-05-04 | SOCIETE GENERALE | Buy | Buy | Maintains |
| 2023-05-04 | BANCO SANTANDER | Underweight | Underperform | Maintains |
| 2023-05-03 | ODDO BHF | Buy | Buy | Maintains |
| 2023-05-03 | BAADER HELVEA EQUITY RESEARCH | Buy | Buy | Maintains |
| 2023-05-03 | STIFEL EUROPE | Buy | Buy | Maintains |
| 2023-05-03 | SOCIETE GENERALE | Buy | Buy | Maintains |
| 2023-05-03 | BANCO SANTANDER | Underweight | Underperform | Maintains |
| 2023-05-02 | SOCIETE GENERALE | Buy | Buy | Maintains |
| 2023-05-01 | SOCIETE GENERALE | Buy | Buy | Maintains |
| 2023-04-27 | CRISPIDEA PRIVATE LIMITED | Hold | Buy | Upgrade |
| 2023-04-26 | CRISPIDEA PRIVATE LIMITED | Hold | Buy | Upgrade |
| 2023-04-13 | CREDIT SUISSE - EUROPE | Neutral | Outperform | Upgrade |
| 2023-04-04 | BRYAN GARNIER | Sell | Buy | Upgrade |
| 2023-03-27 | HSBC | Buy | Hold | Downgrade |
| 2023-03-26 | HSBC | Buy | Hold | Downgrade |
| 2023-03-17 | STIFEL EUROPE | Buy | Buy | Maintains |
| 2023-03-16 | HAUCK AUFHAEUSER INVESTMENT BANKING | Buy | Buy | Maintains |
| 2023-03-15 | CAIXABANK BPI | Neutral | Buy | Upgrade |
| 2023-03-13 | QUIRIN PRIVATBANK AG | Buy | Buy | Maintains |
| 2023-03-10 | BERENBERG | Hold | Hold | Maintains |
| 2023-03-10 | DZ BANK | Buy | Hold | Downgrade |
| 2023-03-09 | DZ BANK | Buy | Hold | Downgrade |
| 2023-03-09 | BERENBERG | Hold | Hold | Maintains |
| 2023-03-09 | REDBURN LIMITED | Buy | Buy | Maintains |
| 2023-03-08 | SOCIETE GENERALE | Buy | Buy | Maintains |
| 2023-03-08 | BNP PARIBAS EXANE | Underperform | Neutral | Upgrade |
| 2023-03-07 | BNP PARIBAS EXANE | Underperform | Neutral | Upgrade |
| 2023-03-07 | ODDO BHF | Buy | Buy | Maintains |
| 2023-03-07 | SRH ALSTERRESEARCH AG | Buy | Hold | Downgrade |
| 2023-03-07 | WARBURG RESEARCH GMBH | Hold | Buy | Upgrade |
| 2023-03-07 | BANCO SANTANDER | Underweight | Underperform | Maintains |
| 2023-03-07 | BAADER HELVEA EQUITY RESEARCH | Buy | Buy | Maintains |
| 2023-01-12 | BRYAN GARNIER | Neutral | Sell | Downgrade |
| 2023-01-11 | BRYAN GARNIER | Neutral | Sell | Downgrade |
| 2023-01-06 | CRISPIDEA PRIVATE LIMITED | Buy | Hold | Downgrade |
| 2023-01-05 | CRISPIDEA PRIVATE LIMITED | Buy | Hold | Downgrade |
| 2022-11-04 | LANDESBANK BADEN-WUERTTEMBERG | Buy | Buy | Maintains |
| 2022-11-03 | LANDESBANK BADEN-WUERTTEMBERG | Buy | Buy | Maintains |
| 2022-11-03 | SRH ALSTERRESEARCH AG | Buy | Buy | Maintains |
| 2022-11-03 | SOCIETE GENERALE | Buy | Buy | Maintains |
| 2022-11-03 | LIBERUM | Buy | Buy | Maintains |
| 2022-11-02 | LIBERUM | Buy | Buy | Maintains |
| 2022-11-02 | SRH ALSTERRESEARCH AG | Buy | Buy | Maintains |
| 2022-11-02 | SOCIETE GENERALE | Buy | Buy | Maintains |
| 2022-10-10 | DAY BY DAY | Sell | Sell | Maintains |
| 2022-10-09 | DAY BY DAY | Sell | Sell | Maintains |
| 2022-09-07 | DZ BANK | Hold | Buy | Upgrade |
| 2022-09-06 | DZ BANK | Hold | Buy | Upgrade |
| 2022-07-05 | CAIXABANK BPI | Underperform | Neutral | Upgrade |
| 2022-07-04 | CAIXABANK BPI | Underperform | Neutral | Upgrade |
| 2022-05-27 | PARETO SECURITIES AS | Buy | Buy | Maintains |
| 2022-05-26 | PARETO SECURITIES AS | Buy | Buy | Maintains |
| 2022-05-05 | BRYAN GARNIER | Buy | Neutral | Downgrade |
| 2022-05-05 | BAADER HELVEA EQUITY RESEARCH | Buy | Buy | Maintains |
| 2022-05-04 | BRYAN GARNIER | Buy | Neutral | Downgrade |
| 2022-05-04 | BAADER HELVEA EQUITY RESEARCH | Buy | Buy | Maintains |
| 2022-03-16 | CRISPIDEA PRIVATE LIMITED | Buy | Buy | Maintains |
| 2022-03-15 | CRISPIDEA PRIVATE LIMITED | Buy | Buy | Maintains |
| 2022-03-11 | BNP PARIBAS EXANE | Underperform | Underperform | Maintains |
| 2022-03-10 | BNP PARIBAS EXANE | Underperform | Underperform | Maintains |
| 2022-03-01 | BRYAN GARNIER | Buy | Buy | Maintains |
| 2022-02-28 | BRYAN GARNIER | Buy | Buy | Maintains |
| 2022-02-22 | HSBC | Buy | Buy | Maintains |
| 2022-02-21 | HSBC | Buy | Buy | Maintains |
| 2022-01-12 | CAIXABANK BPI | Neutral | Underperform | Downgrade |
| 2022-01-11 | CAIXABANK BPI | Neutral | Underperform | Downgrade |
| 2021-12-08 | DZ BANK | Sell | Hold | Upgrade |
| 2021-12-08 | DZ BANK | Hold | Hold | Maintains |
| 2021-12-07 | DZ BANK | Hold | Hold | Maintains |
| 2021-11-08 | SOCIETE GENERALE | Buy | Buy | Maintains |
| 2021-11-08 | BANCO SANTANDER | Underweight | Underweight | Maintains |
| 2021-11-07 | SOCIETE GENERALE | Buy | Buy | Maintains |
| 2021-11-07 | BANCO SANTANDER | Underweight | Underweight | Maintains |
| 2021-11-03 | WARBURG RESEARCH GMBH | Hold | Hold | Maintains |
| 2021-11-02 | WARBURG RESEARCH GMBH | Hold | Hold | Maintains |
| 2021-06-23 | HAUCK AUFHAEUSER INVESTMENT BANKING | Hold | Buy | Upgrade |
| 2021-06-22 | HAUCK AUFHAEUSER INVESTMENT BANKING | Hold | Buy | Upgrade |
| 2021-06-22 | COMMERZBANK CORPORATE CLIENTS | Buy | Buy | Maintains |
| 2021-06-21 | COMMERZBANK CORPORATE CLIENTS | Buy | Buy | Maintains |
| 2021-06-18 | CAIXABANK BPI | Neutral | Neutral | Maintains |
| 2021-06-17 | CAIXABANK BPI | Neutral | Neutral | Maintains |
| 2021-05-06 | CREDIT SUISSE - EUROPE | Neutral | Neutral | Maintains |
| 2021-05-05 | CREDIT SUISSE - EUROPE | Neutral | Neutral | Maintains |
| 2021-04-16 | REDBURN LIMITED | Buy | Buy | Maintains |
| 2021-04-15 | REDBURN LIMITED | Buy | Buy | Maintains |
| 2021-04-01 | SOCIETE GENERALE | Buy | Buy | Maintains |
| 2021-03-17 | HAUCK AUFHAEUSER INVESTMENT BANKING | Hold | Hold | Maintains |
| 2021-03-16 | HAUCK AUFHAEUSER INVESTMENT BANKING | Hold | Hold | Maintains |
| 2021-02-01 | DZ BANK | Sell | Sell | Maintains |
| 2020-11-04 | ERSTE GROUP | Hold | Hold | Maintains |
| 2020-11-03 | ERSTE GROUP | Hold | Hold | Maintains |
| 2020-10-22 | Hauck & Aufhaeuser | Buy | Initiate | |
| 2024-08-08 | LANDESBANK BADEN-WUERTTEMBERG | Hold | Buy | Upgrade |
| 2024-08-08 | DZ BANK | Hold | Buy | Upgrade |
| 2024-08-07 | BNP PARIBAS EXANE | Outperform | Outperform | Maintains |
| 2024-08-06 | METZLER EQUITIES | Buy | Buy | Maintains |
| 2024-08-06 | HAUCK AUFHAEUSER INVESTMENT BANKING | Buy | Buy | Maintains |
| 2024-08-06 | BRYAN GARNIER | Buy | Buy | Maintains |
| 2024-08-06 | CAIXABANK BPI | Buy | Buy | Maintains |
| 2024-08-05 | PANMURE LIBERUM | Buy | Buy | Maintains |
| 2024-08-05 | MWB RESEARCH AG | Buy | Buy | Maintains |
| 2024-08-05 | ODDO BHF | Buy | Buy | Maintains |
| 2024-08-05 | BAADER HELVEA EQUITY RESEARCH | Buy | Buy | Maintains |
| 2024-08-05 | STIFEL EUROPE | Buy | Buy | Maintains |
| 2024-08-05 | WARBURG RESEARCH GMBH | Buy | Buy | Maintains |
| 2024-08-05 | BANCO SANTANDER | Underperform | Outperform | Upgrade |
| 2024-07-17 | CRISPIDEA PRIVATE LIMITED | Buy | Hold | Downgrade |
| 2024-07-02 | REDBURN ATLANTIC | Buy | Buy | Maintains |
| 2024-07-02 | BERENBERG | Hold | Buy | Upgrade |
| 2024-05-26 | HSBC | Buy | Buy | Maintains |
| 2023-11-01 | ODDO BHF | Buy | Buy | Maintains |
| 2023-11-01 | LIBERUM | Buy | Buy | Maintains |
| 2023-11-01 | BAADER HELVEA EQUITY RESEARCH | Buy | Buy | Maintains |
| 2023-11-01 | STIFEL EUROPE | Buy | Buy | Maintains |
| 2023-11-01 | SOCIETE GENERALE | Buy | Buy | Maintains |
| 2023-10-10 | CRISPIDEA PRIVATE LIMITED | Buy | Buy | Maintains |
| 2024-05-07 | QUIRIN PRIVATBANK AG | Buy | Buy | Maintains |
| 2024-03-17 | BERENBERG | Hold | Hold | Maintains |
| 2024-03-14 | DZ BANK | Hold | Hold | Maintains |
| 2024-01-29 | SOCIETE GENERALE | Buy | Buy | Maintains |
| 2023-12-21 | BRYAN GARNIER | Buy | Buy | Maintains |
| 2023-12-19 | WARBURG RESEARCH GMBH | Buy | Buy | Maintains |
| 2023-12-05 | BNP PARIBAS EXANE | Outperform | Outperform | Maintains |
| 2023-11-26 | HSBC | Hold | Buy | Upgrade |
| 2023-11-20 | REDBURN ATLANTIC | Buy | Buy | Maintains |
| 2023-11-13 | CAIXABANK BPI | Buy | Buy | Maintains |
| 2023-11-06 | DZ BANK | Hold | Hold | Maintains |
| 2023-11-06 | BERENBERG | Hold | Hold | Maintains |
| 2023-11-02 | HAUCK AUFHAEUSER INVESTMENT BANKING | Buy | Buy | Maintains |
| 2025-01-03 | METZLER EQUITIES | Buy | Buy | Maintains |
| 2024-12-31 | PANMURE LIBERUM | Buy | Buy | Maintains |
| 2024-12-11 | ODDO BHF | Buy | Buy | Maintains |
| 2024-12-11 | HAUCK AUFHAEUSER INVESTMENT BANKING | Buy | Buy | Maintains |
| 2024-12-11 | BRYAN GARNIER | Buy | Buy | Maintains |
| 2024-12-11 | WARBURG RESEARCH GMBH | Buy | Buy | Maintains |
| 2024-12-11 | BANCO SANTANDER | Outperform | Outperform | Maintains |
| 2024-12-10 | BAADER HELVEA EQUITY RESEARCH | Buy | Buy | Maintains |
| 2024-12-10 | STIFEL EUROPE | Buy | Buy | Maintains |
| 2024-12-08 | LANDESBANK BADEN-WUERTTEMBERG | Hold | Hold | Maintains |
| 2024-12-08 | DZ BANK | Buy | Buy | Maintains |
| 2024-11-28 | BERENBERG | Buy | Buy | Maintains |
| 2024-11-24 | HSBC | Buy | Buy | Maintains |
| 2024-11-18 | REDBURN ATLANTIC | Buy | Buy | Maintains |
| 2024-11-18 | CRISPIDEA PRIVATE LIMITED | Hold | Hold | Maintains |
| 2024-11-13 | BNP PARIBAS EXANE | Outperform | Outperform | Maintains |
| 2024-11-04 | QUIRIN PRIVATBANK AG | Buy | Buy | Maintains |
| 2024-10-17 | LANDESBANK BADEN-WUERTTEMBERG | Buy | Hold | Downgrade |
| 2024-10-13 | CAIXABANK BPI | Buy | Buy | Maintains |
| 2024-10-10 | BAADER HELVEA EQUITY RESEARCH | Buy | Buy | Maintains |
| 2024-10-09 | MWB RESEARCH AG | Buy | Buy | Maintains |
| 2025-04-07 | BERENBERG | Buy | Buy | Maintains |
| 2025-04-03 | CRISPIDEA PRIVATE LIMITED | Hold | Hold | Maintains |
| 2025-04-02 | METZLER EQUITIES | Buy | Buy | Maintains |
| 2025-04-01 | STIFEL EUROPE | Buy | Buy | Maintains |
| 2025-03-30 | LANDESBANK BADEN-WUERTTEMBERG | Hold | Hold | Maintains |
| 2025-03-27 | ODDO BHF | Buy | Buy | Maintains |
| 2025-03-26 | DZ BANK | Buy | Buy | Maintains |
| 2025-03-23 | HSBC | Buy | Buy | Maintains |
| 2025-03-21 | REDBURN ATLANTIC | Buy | Buy | Maintains |
| 2025-03-11 | QUIRIN PRIVATBANK AG | Buy | Buy | Maintains |
| 2025-03-11 | BAADER HELVEA EQUITY RESEARCH | Buy | Buy | Maintains |
| 2025-03-09 | BRYAN GARNIER | Buy | Buy | Maintains |
| 2025-03-06 | MWB RESEARCH AG | Buy | Buy | Maintains |
| 2025-03-05 | WARBURG RESEARCH GMBH | Buy | Buy | Maintains |
| 2025-03-05 | BANCO SANTANDER | Outperform | Outperform | Maintains |
| 2025-02-25 | CAIXABANK BPI | Buy | Buy | Maintains |
| 2025-01-16 | HAUCK AUFHAEUSER INVESTMENT BANKING | Buy | Buy | Maintains |
| 2025-01-15 | PANMURE LIBERUM | Buy | Buy | Maintains |
| 2025-07-15 | WARBURG RESEARCH GMBH | Buy | Buy | Maintains |
| 2025-07-14 | BANCO SANTANDER | Outperform | Outperform | Maintains |
| 2025-07-03 | MWB RESEARCH AG | Buy | Buy | Maintains |
| 2025-07-01 | BAADER HELVEA EQUITY RESEARCH | Buy | Buy | Maintains |
| 2025-06-30 | BERENBERG | Buy | Buy | Maintains |
| 2025-06-29 | CAIXABANK BPI | Buy | Buy | Maintains |
| 2025-06-26 | METZLER EQUITIES | Buy | Buy | Maintains |
| 2025-06-24 | ODDO BHF | Buy | Buy | Maintains |
| 2025-05-26 | CRISPIDEA PRIVATE LIMITED | Hold | Hold | Maintains |
| 2025-05-25 | HSBC | Buy | Buy | Maintains |
| 2025-05-06 | STIFEL, FORMERLY BRYAN GARNIER | Buy | Buy | Maintains |
| 2025-05-05 | QUIRIN PRIVATBANK AG | Buy | Buy | Maintains |
| 2025-04-09 | ROTHSCHILD & CO REDBURN | Buy | Buy | Maintains |
