BUZZ-Extreme Networks rises on new stock buyback program

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