TEAM · PEAD ↓ 100

Atlassian reported Q1 FY2027 EPS of $0.45 on 2026-11-05, beating the $0.24 consensus by $0.21 (+87.5%).

Print-day reaction was −3.5% versus the prior close, as the market sold into the earnings beat — a classic "sell the news" response. The overnight gap to T+1 open was a further −15.5%, an aggressive after-hours and pre-market fade that overwhelmed the headline EPS surprise. Over trading days 1–3 the stock drifted an additional −3.3%, confirming there was no stabilisation or relief bid. Cumulative abnormal return of −19.5% versus SPY.US places this firmly in PEAD short territory; the drift pattern holds through the window ending 2027-02-02.