Jersey Mike’s (NYSE:JMKE) Shares Gap Up – Still a Buy?

Posted by Geri Gentry on Sep 9th, 2026

Jersey Mike’s (NYSE:JMKE – Get Free Report)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $20.82, but opened at $22.93. Jersey Mike’s shares last traded at $21.83, with a volume of 2,217,778 shares.

Key Jersey Mike’s News

Here are the key news stories impacting Jersey Mike’s this week:

Positive Sentiment: Fiscal second-quarter revenue rose 10% year over year to $208 million, while systemwide sales increased 10% to $1.21 billion. Same-store sales grew 2.3%, primarily from higher transaction volume. Jersey Mike’s Reports Second Quarter Financial Results
Positive Sentiment: Jersey Mike’s opened 83 stores during the quarter, driving net unit growth of 8.1% year over year. Digital sales also improved, reaching 43% of sales versus 41% a year earlier, supporting the company’s longer-term expansion strategy. Jersey Mike’s Shows Strong Unit Growth
Positive Sentiment: TD Cowen reaffirmed its “buy” rating and set a $26 price target, implying meaningful upside from recent trading levels. TD Cowen Reaffirms Buy Rating
Neutral Sentiment: Management announced a fiscal 2026 outlook, giving investors an initial framework for evaluating growth after the IPO. The return of the Hot Italian sandwich may provide a modest seasonal sales benefit, but is unlikely to materially affect valuation. Jersey Mike’s Brings Back the Hot Italian
Negative Sentiment: Fiscal second-quarter net income fell to approximately $37 million despite higher revenue. Corporate revenue was in line with analyst expectations, reducing the likelihood of an earnings-driven re-rating and contributing to the stock’s subdued performance. Why Jersey Mike’s Earnings Are Failing to Lift the Stock

Wall Street Analyst Weigh In

A number of brokerages have weighed in on JMKE. Jefferies Financial Group began coverage on Jersey Mike’s in a research report on Monday, August 24th. They issued a “buy” rating and a $29.00 price target on the stock. Robert W. Baird assumed coverage on shares of Jersey Mike’s in a research note on Monday, August 24th. They issued an “outperform” rating and a $27.00 target price on the stock. UBS Group reaffirmed an “outperform” rating on shares of Jersey Mike’s in a report on Wednesday. Morgan Stanley assumed coverage on shares of Jersey Mike’s in a research report on Monday, August 24th. They set an “overweight” rating and a $29.00 target price for the company. Finally, TD Cowen reissued a “buy” rating and set a $26.00 price target on shares of Jersey Mike’s in a report on Wednesday. Twenty-one investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.35.

View Our Latest Stock Analysis on Jersey Mike’s

Jersey Mike’s Stock Performance

Insider Buying and Selling at Jersey Mike’s

In related news, COO Stacy Peterson purchased 15,000 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were acquired at an average cost of $23.00 per share, with a total value of $345,000.00. Following the completion of the purchase, the chief operating officer directly owned 15,000 shares of the company’s stock, valued at $345,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Abu Dhabi Investment Authority sold 382,134 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $21.85, for a total transaction of $8,349,627.90. Following the completion of the sale, the insider directly owned 35,732,138 shares of the company’s stock, valued at approximately $780,747,215.30. This represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders purchased 31,584 shares of company stock valued at $726,432 and sold 9,938,318 shares valued at $217,152,248.

About Jersey Mike’s

(Get Free Report)

We are Jersey Mike’s: A high-growth franchisor of fast casual, submarine-style sandwich restaurants specializing in authentic, hand-crafted, craveable subs. Built over 70 years on one uncompromising belief – that a truly great sub sandwich can change your day and that a truly great brand changes its community – Jersey Mike’s is now one of the largest and fastest-growing limited-service restaurant brands based on U.S. systemwide sales and unit growth, with 3,300 stores across all 50 states and two countries – nearly all of which are franchised.