Snowflake Rises 5% On A Positive Investor Conference

(RTTNews) - Montana-based data warehousing company, Snowflake Inc. (SNOW), is trading 5% higher during the early trading session of Wednesday after the management of the company announced that the revenue has the potential to reach $10 billion annually by the end of the decade.

The company also said that it is prepared to expand into other avenues such as security and supply-chain management systems. Analysts have also upgraded the stock following the conference.

Currently, the stock is trading at $118.51, up $4.64 or 4.07% since the previous close at $113.87. The stock opened at $118.65 in the morning. The shares have ranged between $110.26 and $405.00 in 52 weeks, dropping 52% in the process.