There's an up and coming company you may not know much about that's gearing up to compete with Amazon in a big way, and Wall Street analysts' believe it has a fighting chance.

Last week, Canada-based Shopify unveiled its "shopper fulfillment network" a new service that will allow third-party merchants to better compete with Amazon on delivery times. Analysts cheered the move and the stock jumped 7% last week, adding to its already big gains on the year.

Shopify is a platform that helps merchants and brands create an online store, manage products, payments and shipping. With this new launch, it's now acquiring warehouses in various parts around the U.S. and Canada and integrating AI in order to get customers their goods more quickly and easily.

"Similar to how Amazon built its fulfillment center network over the years to support Amazon Prime two-day (and now one-day) shipping, we also expect Shopify Fulfillment Network to grow and improve the value proposition for merchants significantly," Barclays said in a note to clients. The firm increased their price target to $310 from $225.