Shares of SoFi Technologies (NASDAQ: SoFi) are up about 16% in pre-open Thursday after the company reported better-than-expected Q3 results.

SoFi reported Q3 EPS of ($0.05) to easily beat the analyst estimate of ($0.16). Revenue for the quarter came in at $272 million versus the consensus estimate of $255.63 million.

“I believe we’ve accomplished more at SoFi across our uniquely diversified platform of mobile-first financial services products over the past year than many other companies will achieve in a lifetime,” said Anthony Noto, CEO of SoFi Technologies.

SoFi is calling for Q4 adjusted net revenue of $272 million to $282 million, up 49-55% year-over-year. Adjusted EBITDA is seen between $2 million and $5 million.

Rosenblatt analyst Sean Horgan reiterated a Buy rating and a $30.00 per share price target on SoFi shares following a “solid quarter.”

“We expect shares to react modestly following the 3Q print, as the beat and upward guidance were clear positives but the momentum of the stock (likely augmented by retail, in our view) created a difficult setup heading into the quarter. Nevertheless, the quarter's results and new guide will likely narrow the range of possibilities for 2021 results, which may assuage some lingering concerns before the focus turns to the bank charter approval. We believe a fair base-case assumption is that approval will come by 2Q22,” Horgan said in a client note.

Morgan Stanley analyst Betsy L. Graseck maintained an Overweight rating and a $25.00 per share price target as robust account acquisition is likely to continue in 2022.

“Strong quarter for the Lending business drives the revenue beat, offsetting weakness in crypto revenues. Account acquisition remains very robust, positive for an acceleration of revenue growth within Financial Services,” Graseck wrote in a client note.

SoFi shares are already up 67.3% YTD.