What happened Shares of Sierra Wireless (NASDAQ: SWIR) briefly soared by as much as 10% this morning after the company reported fourth-quarter earnings. As of 11:35 a.m. EST, the stock had given back all of those gains and was flat for the day. So what Revenue in the fourth quarter came in at $120.5 million, ahead of the consensus estimate of $116.7 million. That resulted in an adjusted net loss of $0.19 per share, which was also better than the $0.26 per share in adjusted losses that Wall Street analysts were modeling for. The wireless technology company had previously provided commentary that it would beat revenue expectations. Sierra Wireless said that recurring and services revenue comprised 27% of sales during the quarter. Image source: Getty Images. "We are winning in the market with our Solutions offering and our Recurring and other services revenue is now at 27.1% of total revenue," outgoing CEO Kent Thexton said in a statement. "We completed the divestiture of our Automotive product line in November and ended the year with a strong balance sheet with $171.4 million in cash and no debt." Now what Guidance for the first quarter calls for revenue to be in line with current expectations of approximately $109.9 million. Sierra Wireless warned that it continues to face difficult supply chain conditions that are constraining certain components. Following the release, several analysts have adjusted price targets: TD Securities: Maintains hold rating, increases price target from $15 to $18. BMO Capital: Reiterates market perform rating, boosts price target from $13 to $19. Canaccord Genuity: Keeps buy rating, raises price target from $24 to $30. 10 stocks we like better than Sierra WirelessWhen 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 Sierra Wireless 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 November 20, 2020 Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source