While much of the broader tech sector is getting clobbered, ad-tech firm AppLovin is on track for its biggest one-day stock gain in two years.

The company-known largely as a platform that coordinates mobile-gaming ads-posted stronger-than-expected third-quarter results and a solid fourth-quarter forecast that helped counter Wall Street's recent concerns about slowing growth.

A few analysts bumped up their price targets, and Madison & Wall said it thinks the company is on track to account for more than $25 billion in annual advertising spending by marketers in the current year.

But AppLovin still has a long way to climb - even with Thursday's jump of about 30%, shares are down more than 40% so far this year.