09:54 AM EDT, 07/19/2024 (MT Newswires) -- CrowdStrike Holdings ( CRWD ) is not expected to lose market share to competitors following the outage that resulted from a content update to Microsoft ( MSFT ) Windows hosts, Truist Securities said in a note Friday.

The firm said it doesn't see the outage affecting demand for CrowdStrike's ( CRWD ) security offerings as it was due a faulty software update and not a security breach.

"Near-term, it does dent the stellar image of the company," Truist said.

Truist said that while the cybersecurity company has released a fix, industry sources have commented it may take some time for the fix to be deployed at large scale.

Truist maintained the company's buy rating and $400 price target.

Shares of CrowdStrike ( CRWD ) were down more than 14% in recent Friday trading.

Price: 293.47, Change: -49.58, Percent Change: -14.45