Jersey Mike's Confidentially Files for IPO Amid Market Uncertainty
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
Should l Buy BX?
Source: CNBC
- IPO Filing: Jersey Mike's has confidentially filed for an initial public offering (IPO) on November 21, 2024, marking a significant step towards public trading, and if successful, it will be the first restaurant IPO since Black Rock Coffee Bar's offering in September.
- Acquisition Context: Following Blackstone's acquisition of a majority stake in Jersey Mike's for approximately $8 billion, the company appointed former Wingstop CEO Charlie Morrison as CEO, aiming to leverage his IPO experience to drive growth.
- Financial Performance: Jersey Mike's reported revenue of $309.8 billion in 2025, reflecting a 10.6% increase year-over-year, although its net income fell to $183.6 million from $238.8 million the previous year, highlighting challenges between growth and profitability.
- Market Environment: Despite volatility and economic uncertainty in the IPO market, Jersey Mike's listing plans may be influenced by upcoming blockbuster IPOs, such as SpaceX, indicating ongoing demand for new public offerings.
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Analyst Views on BX
Wall Street analysts forecast BX stock price to rise
12 Analyst Rating
5 Buy
7 Hold
0 Sell
Moderate Buy
Current: 128.990
Low
166.00
Averages
176.60
High
205.00
Current: 128.990
Low
166.00
Averages
176.60
High
205.00
About BX
Blackstone Inc. is an alternative asset manager. Its asset management includes global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries, and hedge funds. Its Real Estate segment comprises its management of opportunistic real estate funds, Core+ real estate funds, and real estate debt strategies. Its Private Equity segment includes its management of flagship Corporate Private Equity funds, sector and geographically focused Corporate Private Equity funds, core private equity funds, an investment platform, and others. Its Credit & Insurance segment consists of Blackstone Credit & Insurance, which is organized into three overarching strategies: private corporate credit, liquid corporate credit and infrastructure and asset-based credit. Its Multi-Asset Investing segment is organized into four investment platforms: Absolute Return, Multi-Strategy, Total Portfolio Management, and Public Real Assets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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