What happened Shares of e-commerce specialist Shopify (NYSE: SHOP) soared on Wednesday, finishing the trading day up 9.5%. The stock's gain was probably fueled by a combination of a bullish day for the overall stock market and an analyst's reiterated overweight rating for the stock. Image source: Shopify. So what Market indices rose sharply on Monday, driving many tech stocks higher -- especially growth tech stocks like Shopify. Also helping fuel Shopify stock's gain may have been commentary from Wells Fargo analyst Timothy Willi. Despite expectations for a deteriorating economic outlook, Willi maintained an overweight rating for Shopify shares. While the analyst did lower his 12-month price target for the stock from $600 to $500 to reflect macroeconomic headwinds, investors have arguably already priced in a more challenging operating environment during the coronavirus pandemic. The analyst's price target implies 21% upside from Shopify's current stock price of $414.51. Now what Last week, Shopify shares fell sharply when the company suspended its full-year financial outlook. Management said there's uncertainty about how the year will play out but also noted that it expects to meet or exceed its first-quarter guidance range for both revenue and operating income. 10 stocks we like better than ShopifyWhen investing geniuses David and Tom Gardner have 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.* David and Tom 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 March 18, 2020 Daniel Sparks has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Shopify. The Motley Fool has a disclosure policy.Source