Share repurchase programs often lead to an increase in the stock price in the short term as they reduce the number of shares available in the market, potentially increasing earnings per share (EPS). Given HashiCorp's decision to buy back up to $250 million of its common stock, this indicates a strong confidence in the company's financial stability and future prospects. It also suggests that the company believes its stock is undervalued, making this an opportune time to return value to shareholders.