What happened Shares of Shopify (NYSE: SHOP) were up as much as 12.5% this week along with a broad rally in tech stocks. The company got numerous upgrades from analysts before its earnings report next week. As of 12:49 p.m. EDT on Friday, the stock is up 12.4% on the week. So what At least three Wall Street analysts raised their price targets on Shopify stock ahead of the company's earnings report next week. This includes RBC Capital Markets, which boosted its price target from $1,700 to $1,800; Stifel, which raised its price target from $1,400 to $1,600; and Susquehanna, which raised its price target from $1,500 to $1,800. Image source: Getty Images. The analyst teams highlighted third-party data showing resiliency in e-commerce sales, even with economies reopening worldwide, which led them to raise their revenue outlook for Shopify over the next few years. For example, RBC Capital Markets estimated that merchants on Shopify rose 39% year over year in the second quarter, accelerating the 27% year-over-year growth it saw in Q1. This acceleration in growth in spite of the U.S. economy reopening was likely why investors got bullish on Shopify stock this week. Now what Shopify is one of the best-performing stocks of the last five years, up almost 5,000% since 2016. However, with a market cap close to $200 billion and projections for less than $10 billion in revenue three years from now, a lot of future growth is already priced into this company. This doesn't mean you should sell your shares of Shopify, but don't expect a repeat of this stellar performance over the next decade. 10 stocks we like better than ShopifyWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Shopify wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 7, 2021 Brett Schafer has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Shopify. The Motley Fool recommends the following options: long January 2023 $1,140 calls on Shopify and short January 2023 $1,160 calls on Shopify. The Motley Fool has a disclosure policy.Source