Guggenheim raises Jersey Mike’s stock price target on stronger sales outlook

Bank of America analyst Sara Senatore raised her price target for Jersey Mike's Subs (JMKE) to $29, citing improving traffic trends and digital sales growth. The company reported Q2 same-store sales growth of 2.3% and systemwide sales of $1.21 billion. Despite near-term expense pressures, BofA maintains a Buy rating, expecting long-term growth. JMKE opened 83 new restaurants in Q2, with a target of over 7,500 domestic stores by 2036.

Jersey Mike's Subs (JMKE) reported Q2 2026 results with higher sales and revenue but lower profit. Shares closed at $21.71, with a 7-day return of 4.5% and a 30-day return of -2%. The stock trades at a P/S ratio of 6.7x, higher than peers and industry average, suggesting investors expect future profitability improvements.

Jersey Mike's (JMKE) stock rose 7% after reporting Q2 revenue of $208M, up 10% YoY, and raised same-store sales guidance. CEO Charlie Morrison noted transaction growth. The company has $1.5B net debt post-IPO and aims to reduce leverage. Cramer sees potential for a longer-term rally, but debt and transaction sustainability remain concerns.

Jersey Mike's (JMKE) reported Q2 revenue of $208M, up 10% YoY but below estimates. Adjusted EBITDA rose 7% to $114M, beating expectations. Same-store sales grew 2.3%. The company guided to Q3 same-store sales growth of 3.0%-4.0% and adjusted EBITDA growth of at least 13%. Shares rose nearly 8% on Wednesday.

Jersey Mike's (JMKE) reported a 33% drop in profit to $37M in Q1, but revenue rose 10% to $208M, meeting expectations. Systemwide sales increased 10% to $1.21B, and same-store sales grew 2.3%. The decline in profit was attributed to high interest expenses and purchase accounting adjustments following its buyout by Blackstone. The company opened 83 new stores, bringing the total to 3,378. Shares rose over 5% at Wednesday's opening.

Jersey Mike's Subs (JMKE) shares rose 7% after reporting Q2 results as a public company. Revenue increased 10% to $208M, EBITDA up 7% to $114M. Same-store sales grew 2.3%. CEO projects 3-4% same-store sales growth and 13% EBITDA growth in Q3. Management targets 7,500 U.S. and 15,000 global locations long-term.