RTTNews | Jun 11, 2021 01:40PM EDT

13:40 Friday, June 11, 2021 (RTTNews.com) - Friday, Snowflake Inc. (SNOW), shares dropped 4% in the market after the company's first meeting with the analysts since going public in September 2020. The chief financial officer of the company, Mike Scarpelli said in the meeting that the company will look to achieve $10 billion in revenue in 2029.

Scarpelli also said that the company will look to grow its customer base to 1400, up from 77 this year, by 2029, each of whom will generate $1 million in revenue annually for the company. Scarpelli also added that the company is now valued at $90 million, from $81 million while going public.

The shares are trading at $237.75, down 4.44% or $11.52 from $248.80 at the bell on Thursday. The market opened at $239 on Friday. In the 52-week period, the company has traded in the range of $184.71 and $429.00.

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