CrowdStrike Holdings Inc. shares continued to decline on Monday due to ongoing disruptions caused by a faulty software update, which affected global technology systems.

The stock fell 9% in the morning following an 11% drop on Friday.

Analysts, including Guggenheim’s John DiFucci and BTIG’s Gray Powell, downgraded the stock, citing potential long-term impacts on the company’s reputation and new business prospects, MarketWatch has reported.

DiFucci noted that while the damage might not significantly affect existing contract renewals, it could delay new deals and harm CrowdStrike’s competitive edge.

Written by B.C. Begley