 Since its initial release, The Wanderers has gained a significant cult following. In 1988, Danny Peary said the film's "sensitive depiction" of teenagers coming-of-age was partly responsible for its cult status. Placing The Wanderers seventh in his list of "lesser-known" cult films, Neil Evans describing the film as a "lost masterpiece". Another writer described the film as a "near masterpiece" and called it "one of the best coming-of-age [films] ever made". On the film's popularity and cult status, Kaufman said:
