Robinhood Markets Inc ( HOOD ) shares are trading higher Thursday after the company announced February’s operating data.

What Happened: Robinhood’s total funded customers grew to 23.6 million at the end of February, up approximately 130,000 from January. Net deposits were $3.6 billion last month. Assets under custody totaled $118.7 billion as of the end of February, up 16% from January. Net deposits have now climbed to $21.6 billion over the last 12 months.

Robinhood said trading volumes in February were higher across all asset classes relative to January:

Equity Notional Trading Volumes were $80.9 billion, up 36%

Crypto Notional Trading Volumes were $6.5 billion, up 10%

Options Contracts Traded were 119.1 million, up 12%

Margin balances at the end of February were $3.8 billion, up 6% from January. Total cash sweep balances were $18.1 billion, up 8% from the end of January. Total securities lending revenue in February was $13 million, up 8% from the prior month.

See Also: Wall Street Eyes Strong Start Ahead Of More Inflation Data, Gold & Bitcoin Dip: Why This Analyst Looks Beyond AI For Growth

Robinhood is not due to report quarterly earnings again until early May. Analysts expect the company to report EPS of 3 cents and revenue of $506.652 million, according to estimates from Benzinga Pro.

On Thursday morning, Bernstein analyst Mahika Sapra initiated coverage on Robinhood with an Outperform rating and set a price target of $30. The bullish call from Berstein appears to be adding some fuel to the rally in Robinhood shares.

HOOD Price Action: Robinhood shares were up 11.1% at $19.08 at the time of writing Thursday morning, according to Benzinga Pro.