UPDATE: Wedbush Lowers PT on DemandTec to $12 (DMAN)

Wedbush is out with its report today on DemandTec (NASDAQ: DMAN), lowering its PT from $13 to $12.

In a note to clients, Wedbush writes, "As DMAN shares are trading at a relatively high EV/Sales multiple with only ~10-13% organic revenue growth, we believe the shares could be modestly overvalued at the current level; lowering target to $12."

Wedbush maintains Neutral on DMAN.

Shares of DMAN closed Thursday at $13.16, down 0.60% from Wednesday's close.