JPMorgan analyst Sterling Auty downgraded Synchronoss Technologies to Neutral from Overweight and cut his price target for the shares to $27 from $65. With today's news of a March quarter shortfall and previous management stepping back in, it "appears the company bit off more than it could chew," Auty tells investors in a research note. The analyst made "significant cuts" to his 2017 and 2018 revenue and profitability estimates and notes today's press release had "very limited information." Synchronoss shares in morning trading are down 47% to $12.95.