Wolfe Research
Upgrade grade
B
Downgrade grade
B
Wolfe Research was founded in 2010 by Christopher Wolfe and a team of experienced analysts who left larger institutions to build a more independent research platform. The firm has grown into a respected boutique investment bank and equity research house with approximately 1,595 analyst rating calls on US equities in our database, establishing themselves as a meaningful voice in institutional investing despite their smaller size compared to bulge-bracket competitors. Wolfe Research has earned particular recognition for their deep expertise in technology, healthcare, and consumer sectors, where their analysts are known for detailed fundamental work and frequent company engagement. The firm has distinguished itself through a culture emphasizing independent thinking and contrarian perspectives, with analysts willing to publicly challenge consensus views when their research warrants it, earning them credibility among sophisticated institutional clients who value proprietary insights over conventional wisdom.
Upgrades
491
75.97% win rate
· avg +1.51% D1
Downgrades
507
77.71% win rate
· avg -1.77% D1
Avg Gap — Upgrades
+1.21%
open vs prev close
Avg Gap — Downgrades
-1.40%
open vs prev close
Performance by Sector
| Sector | ↑ Win% | ↑ D1 | ↓ Win% | ↓ D1 |
|---|---|---|---|---|
| Industrials | 74.14% (116) | +1.52% | 79.17% (120) | -2.29% |
| Energy | 76.19% (63) | +1.68% | 71.19% (59) | -0.93% |
| Financial Services | 66.00% (50) | +0.62% | 85.48% (62) | -1.65% |
| Technology | 70.83% (48) | +1.32% | 70.00% (60) | -2.06% |
| Consumer Cyclical | 82.69% (52) | +1.68% | 65.96% (47) | -1.65% |
| Real Estate | 80.00% (40) | +1.12% | 73.17% (41) | -1.14% |
| Healthcare | 90.24% (41) | +2.60% | 75.76% (33) | -0.10% |
| Utilities | 76.67% (30) | +1.60% | 92.59% (27) | -3.14% |
| Communication Services | 69.23% (26) | +1.94% | 96.00% (25) | -1.78% |
| Basic Materials | 76.19% (21) | +1.41% | 76.00% (25) | -2.57% |
Win Rate by Year
| Year | ↑ Win% | ↑ Calls | ↓ Win% | ↓ Calls |
|---|---|---|---|---|
| 2026 | 81.8% | 22 | 55.9% | 34 |
| 2025 | 76.2% | 84 | 77.6% | 58 |
| 2024 | 84.1% | 88 | 82.1% | 78 |
| 2023 | 79.8% | 84 | 81.1% | 90 |
| 2022 | 68.6% | 51 | 81.0% | 116 |
| 2021 | 66.1% | 56 | 76.9% | 39 |
| 2020 | 70.3% | 37 | 86.2% | 29 |
| 2019 | 64.7% | 17 | 58.3% | 12 |
| 2016 | 90.0% | 20 | 84.2% | 19 |
| 2015 | — | — | 83.3% | 12 |
Recent Calls
| Date | Ticker | Company | Sector | Action | Grade Change | PT | Gap | D1 |
|---|---|---|---|---|---|---|---|---|
| May 20, 2026 | CCI | Crown Castle Inc. | Real Estate | Downgrade | Outperform → Peer Perform | — | — | — |
| May 19, 2026 | XE | X-Energy, Inc. Class A Common Stock | Industrials | Initiates | Peer Perform | — | +2.9% | +4.6% |
| May 19, 2026 | TYRA | Tyra Biosciences, Inc. | Healthcare | Initiates | Peer Perform | — | -1.6% | -5.3% |
| May 19, 2026 | OKLO | Oklo Inc. | Utilities | Initiates | Peer Perform | — | -3.1% | -4.6% |
| May 19, 2026 | MIRM | Mirum Pharmaceuticals, Inc. | Healthcare | Initiates | Outperform | $145 | -0.4% | +0.2% |
| May 19, 2026 | CTMX | CytomX Therapeutics, Inc. | Healthcare | Initiates | Outperform | $6 | +1.1% | +4.0% |
| May 19, 2026 | CGON | CG Oncology, Inc. Common stock | Healthcare | Initiates | Peer Perform | — | -1.3% | +0.6% |
| May 11, 2026 | MAIR | Madison Air Solutions Corporation | Industrials | Initiates | Peer Perform | — | +4.7% | +0.1% |
| May 11, 2026 | ARXS | Arxis, Inc. Class A Common Stock | Industrials | Initiates | Outperform | $43 | +0.9% | +9.9% |
| May 6, 2026 | OSCR | Oscar Health, Inc. | Healthcare | Initiates | Peer Perform | — | +2.8% | +10.6% |
| May 1, 2026 | RBRK | Rubrik, Inc. | Technology | Initiates | Outperform | $70 | +4.8% | +3.6% |
| May 1, 2026 | CVLT | Commvault Systems, Inc. | Technology | Initiates | Peer Perform | — | +2.1% | +0.7% |
| Apr 30, 2026 | AMZN | Amazon.com, Inc. | Consumer Cyclical | Reiterates | Outperform | $320 | +3.9% | +0.8% |
| Apr 30, 2026 | VGNT | Versigent PLC | Consumer Cyclical | Initiates | Outperform | $53 | +0.1% | +1.8% |
| Apr 29, 2026 | NXPI | NXP Semiconductors N.V. | Technology | Maintains | Outperform → Outperform | — | +22.1% | +25.5% |
| Apr 27, 2026 | RUSHA | Rush Enterprises, Inc. | Consumer Cyclical | Initiates | Outperform | $88 | +0.7% | +1.7% |
| Apr 27, 2026 | VC | Visteon Corporation | Consumer Cyclical | Upgrade | Peer Perform → Outperform | $135 | +1.4% | -0.5% |
| Apr 21, 2026 | VLO | Valero Energy Corporation | Energy | Downgrade | Peer Perform → Underperform | $203 | +0.2% | +3.1% |
| Apr 21, 2026 | XOM | Exxon Mobil Corporation | Energy | Downgrade | Outperform → Peer Perform | — | -0.2% | +0.5% |
| Apr 17, 2026 | QRVO | Qorvo, Inc. | Technology | Downgrade | Outperform → Peer Perform | — | +0.6% | +0.2% |
| Apr 15, 2026 | FOUR | Shift4 Payments, Inc. | Technology | Downgrade | Outperform → Peer Perform | — | -0.7% | +2.6% |
| Apr 8, 2026 | OTIS | Otis Worldwide Corporation | Industrials | Downgrade | Outperform → Peer Perform | — | +0.5% | +2.2% |
| Apr 8, 2026 | XOM | Exxon Mobil Corporation | Energy | Maintains | Outperform → Outperform | — | -6.3% | -4.7% |
| Apr 7, 2026 | SLNO | Soleno Therapeutics, Inc. | Healthcare | Downgrade | Outperform → Peer Perform | — | +0.1% | +0.2% |
| Mar 31, 2026 | CNTA | Centessa Pharmaceuticals plc | Healthcare | Downgrade | Outperform → Peer Perform | — | +45.1% | +44.0% |