NEW YORK (TheStreet) -- Shares of Pure Storage (PSTG) - Get Report were increasing in mid-afternoon trading on Tuesday ahead of the company's 2017 fiscal second quarter results, due out after Thursday's closing bell.

Analysts surveyed by Thomson Reuters are expecting a loss of 23 cents per share on revenue of $115.14 million.

Pure Storage went public in October 2015.

Late last week, the stock was downgraded to "negative" from "mixed" at OTR Global.

The new rating follows survey results that indicated heightened competition, pricing pressures and weaker-than-anticipated pipelines for the fiscal third quarter, the firm said.

The Mountain View, CA-based company provides an enterprise data storage platform.

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