Shares of app publishing and monetization company AppLovin (NASDAQ: APP) popped on Friday. A competitor published its latest quarterly earnings and that, in part, may have investors feeling good about AppLovin. Additionally, an analyst raised AppLovin's price target, which also helped boost confidence. As of 3:20 p.m. ET, AppLovin stock was up 10.5%.

DA Davidson analyst Franco Granda raised his price target for AppLovin stock today, according to StreetInsider. The new price target -- the price Granda believes it can hit within the next year -- is $55 per share, up 17% from his previous price target of $47 per share. This represents significant 25% upside from where AppLovin trades now, as of this writing.

Perhaps AppLovin's biggest competitor is Unity. And AppLovin's financial results for the third quarter of 2023 (reported on Nov. 8) were better than Unity's (reported yesterday afternoon) across the board.

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Source Fool.com