babel-7-and-jest.js

// Babel Deps
"@babel/core": "7.1.0",
"@babel/plugin-proposal-class-properties": "^7.0.0",
"@babel/plugin-proposal-object-rest-spread": "^7.0.0",
"@babel/plugin-transform-runtime": "^7.0.0",
"@babel/preset-env": "7.1.0",
"@babel/preset-react": "7.0.0",
"babel-core": "7.0.0-bridge.0",
"babel-eslint": "8.0.1",
"babel-jest": "23.6.0",
"babel-loader": "8.0.2",
"babel-polyfill": "6.26.0",

// Testing
"jest": "23.6.0",
"jest-enzyme": "6.0.4",
"enzyme": "3.6.0",
"enzyme-adapter-react-16": "1.4.0",
"enzyme-to-json": "3.3.4",

// Webpack
"webpack": "4.17.2",

// Webpack Loader
{
  test: /\.jsx?$/,
  exclude: EXCLUDE_DIRS,
  include: SRC_DIR,
  loader: 'babel-loader',
  options: {
    presets: [
      '@babel/env',
      '@babel/react',
    ],
    plugins: [
      '@babel/plugin-proposal-class-properties',
      '@babel/plugin-proposal-object-rest-spread',
    ],
  },
},

// .babelrc
{
  "plugins": [
    "@babel/plugin-proposal-class-properties",
    "@babel/plugin-proposal-object-rest-spread",
    "@babel/plugin-transform-runtime",
    "react-hot-loader/babel"
  ],
  "presets": [
    "@babel/env",
    "@babel/react"
  ],
}

Looks like maybe it was related to jest and babel-jest not matching.