Is AdTheorent Holding Co., Inc. overvalued or undervalued?

As of 2 October 2023, AdTheorent Holding Co., Inc. has moved from fair to attractive. The company appears to be undervalued based on its current financial metrics. Key ratios include a Price-to-Earnings (P/E) ratio of 15.2, a Price-to-Book (P/B) ratio of 1.8, and a Return on Equity (ROE) of 12.5%.
In comparison to its peers, Magnite, Inc. has a P/E ratio of 20.4, while The Trade Desk, Inc. stands at 25.1. This suggests that AdTheorent is trading at a discount relative to its competitors, reinforcing the valuation narrative. Additionally, recent stock performance has shown that AdTheorent has outpaced the Sensex, further supporting the case for its undervaluation.