Affirm falls after dour Q4 revenue forecast

Buy now, pay later lender Affirm's AFRM.O shares fall 7% to $50.45 before the bell

AFRM late Thursday forecast Q4 revenue largely below Wall Street expectations

Co expects gross merchandise value (GMV) growth to moderate in Q4 from levels observed in April

"We observed an increase in GMV growth rate during the final week of March through the month of April, possibly due to macroeconomic conditions," AFRM says

Seaport Research analyst Jeff Cantwell says revenue growth is decelerating for AFRM in the backdrop of investor concerns around the outlook for consumer spending

"When it's a high-multiple name (such as AFRM) and when its revenue growth is trending in the wrong direction (slower), typically the stock trades down post-print," Cantwell says

14 of 24 brokerages rate stock "buy" or higher and 10 "hold"; median PT $65.12 - data compiled by LSEG

As of last close, AFRM stock down 11% YTD