The company reported strong Q2 2026 results, beating earnings and revenue estimates with 17% revenue growth. It reaffirmed its full-year outlook and announced a major multi-year AI partnership with Anthropic to build custom AI agents for its mid-market and small business platform. However, the stock has faced significant recent pressure, down 35% year-to-date, attributed to AI competitive concerns and a perceived weak forward outlook. An analyst lowered the price target citing these AI threats, though maintains an Outperform rating.