In a new regulatory filing on Monday, Snowflake raised the target price range of its upcoming stock offering to $100-$110, up from $75-$85. With 28 million shares being offered, this boosts the amount Snowflake could raise to as much as $3.08 billion. 

Snowflake submitted a revised S-1 to the Securities and Exchange Commission (SEC) today and plans to trade on the New York Stock Exchange using the ticker symbol "SNOW." The company has yet to disclose when it will begin trading, but several reports suggest its initial public offering (IPO) could come as early as Tuesday or Wednesday.

Warren Buffet smiling in a crowd being photographed.

Warren Buffett. Image source: The Motley Fool.

The cloud data management company has been the subject of keen interest among investors, no doubt fueled by the ongoing rally in technology stocks. The 24% gains of the tech-heavy Nasdaq so far this year have easily outpaced the 5% increase of the S&P 500 and the 2% decline of the Dow Jones Industrial Average.

Recent developments have only served to draw more attention to Snowflake's IPO. The revelation that salesforce.com (NYSE:CRM) and Warren Buffett's Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) would each make a $250 million investment has sparked additional awareness of the fledgling company.

Berkshire has gone further, agreeing to purchase an additional 4,042,043 shares from former CEO Bob Muglia in a private secondary transaction. At the high end of the range, this could push the value of the conglomerate's investment to nearly $700 million. 

Snowflake's significant top-line growth is another intriguing factor. For the fiscal year ended Jan. 31, 2020, the company reported revenue of nearly $265 million, up 173% year over year. The impressive growth continued into the first six months of this fiscal year, with Snowflake posting revenue of $242 million, an increase of 133% and nearly matching revenue for all of last year. Losses have also slowed, to $171 million from $177 million in the prior-year period.

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