Fintech shares AffirmAnd SoFiThe stock market soared on Thursday following the announcements of earnings results by both companies that beat revenues.

Affirm stock shares surged 15% after Thursday’s report that the company, a buy now and pay later business, reported revenue of $269.4 millions in its fiscal first quarter. That figure beat analysts estimates of $248.2million. Affirm reported a quarter-end loss of $1.13 per share.

After it announced that it was expanding its partnership, the stock price of the company shot up to 30% on Wednesday. Amazon. Affirm will become the exclusive third-party Amazon buy now, buy later option. However, credit card companies can offer future buy now and pay later options. 

SoFi shares surged more than 14% after Wednesday’s release of better-than expected quarterly results. SoFi posted a loss in third quarter at 5 cents per diluted share, which beat analyst expectations of a loss by 14 cents. Wall Street also predicted revenue of $251.6million, which was $277.2M.

Jeffries analysts maintained their buy rating for SoFi. They raised the price target for SoFi to $26 as SoFi upgraded its quarterly revenue outlook and continued growth.

The Jeffries analysts stated that they will “continue to follow the pace for new accounts growth and momentum within the financial sector svcs segments, as well as Galileo which is something we believe to be a differentiator of the company as the company continues to scale….”

Galileo, a financial platform and payment system that the company purchased in 2020 is called Financial Services Platform.