Keen investor interest in Snowflake's initial public offering (IPO) has driven up the proposed stock price higher for the second time in just a week, according to multiple reports. The data warehouse management company initially priced the shares for its public debut in a range of $75-$85, but just days later, increased the range to $100-$110. Snowflake has reportedly raised its stock price to $120, an increase of 50% from the mid-range of its original proposal. The shares are expected begin trading on the New York Stock Exchange Wednesday, using the ticker symbol "SNOW." Image source: Getty Images. This latest move would price the company at roughly $33 billion, nearly three times the $12.4 billion valuation it attained earlier this year in a private offering. Investors have become increasingly eager to buy into the high-growth, cloud computing company, which provides businesses with a way to pull data from varying systems into one place for analysis. This gives users more complete information upon which to base business decisions. Analysts have suggested that Snowflake's cloud-centric approach has resulted in a more robust data warehouse, making it better able to compete with cloud leader Amazon (NASDAQ: AMZN) Web Services (AWS). Sanford C. Bernstein analyst Zane Chrane said that, while AWS is the undisputed leader, "Snowflake has been one of the most disruptive new vendors in the enterprise space in the last few years." This shows in Snowflake's soaring revenue. For the fiscal year ended Jan. 31, 2020, revenue jumped to $265 million, up 173% year over year. The trend continued into the first six months of this year, with revenue of $242 million, up 133% and nearly as much as all of last year. The company has also trimmed its losses to start out 2020 to $171 million down from $177 million in the prior-year period. Investments by Salesforce (NYSE: CRM) and Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) have also helped stoked interest. 10 stocks we like better than Berkshire Hathaway (A shares)When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Berkshire Hathaway (A shares) wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of August 1, 2020 John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Danny Vena owns shares of Amazon. The Motley Fool owns shares of and recommends Amazon, Berkshire Hathaway (B shares), and Salesforce.com and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), short January 2022 $1940 calls on Amazon, long January 2022 $1920 calls on Amazon, and short September 2020 $200 calls on Berkshire Hathaway (B shares). The Motley Fool has a disclosure policy.Source