Extreme Networks rises on new stock buyback program

Extreme Networks

18/02/2025 13:25

** Extreme Networks Inc's  EXTR.O  shares up 3.8% premarket to
$17.01 after new buyback plans announced
    ** EXTR shares on track to rise for third straight session,
if gains hold
** Morrisville, North Carolina cloud networking firm said board
authorized three-year $200 mln share repurchase program
beginning Jul 1
    ** It has $50 mln remaining under prior buyback program,
which expires Jun 30, co said
    ** Buyback activity resumed after several qtrs of sequential
growth and improvement in cash flow - CFO Kevin Rhodes
    ** EXTR has ~$2.2 bln market cap, per LSEG
    ** Through Fri close, stock has gained ~34% over the past
year
    ** Of 7 analysts covering EXTR, 4 rate stock "buy", rest
"hold" and their median PT is $21 - LSEG

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380))