PayPal Holdings Inc. experienced a significant decline in its stock price, dropping by as much as 12.87% following its earnings report. The selloff was attributed to investor concerns over PayPal's increasing expenses and a decline in its non-GAAP operating margin by 34 basis points to 18%. Despite the negative reaction, several analysts from firms such as Citi, BofA, Monness Crespi, and BTIG have defended the company, maintaining their buy ratings and describing the selloff as 'overdone' and 'drastic'. Citi reiterated a Buy rating with a price target of $97, while BTIG labeled the selloff as 'a bit drastic'. The focus of investor dissatisfaction also centered on PayPal's Braintree strategy and the company's emphasis on share buybacks.