Is Evolent Health, Inc. overvalued or undervalued?

As of 4 August 2016, Evolent Health, Inc. has moved from an attractive to a risky valuation grade. The company is currently considered overvalued, given its negative P/E ratio and poor return metrics. Key ratios include a Price to Book Value of 1.06, an EV to EBITDA of 15.47, and a ROE of -8.76%.
In comparison to its peers, Grand Canyon Education, Inc. has a fair valuation with a P/E of 31.27 and an EV to EBITDA of 21.81, while MAXIMUS, Inc. also holds a fair valuation with a P/E of 12.96 and an EV to EBITDA of 7.99. Evolent's performance has been notably poor over the past year, with a stock return of -53.33% compared to the S&P 500's 10.26%, reinforcing the notion that the company is overvalued in its current state.