Is Evolent Health, Inc. overvalued or undervalued?

As of 4 August 2016, Evolent Health, Inc. has moved from a fair to a risky valuation grade. The company appears to be overvalued given its current metrics, particularly with a Price to Book Value of 1.06, an EV to EBITDA ratio of 15.47, and a ROE of -8.76%. In comparison to peers, ADT, Inc. has a P/E ratio of 10.0151 and an EV to EBITDA of 5.1174, while Shift4 Payments, Inc. shows a fair valuation with a P/E of 14.0060 and an EV to EBITDA of 12.2044, indicating that Evolent Health is trading at a premium relative to more attractively valued companies.
Furthermore, Evolent Health's stock has significantly underperformed against the S&P 500, with a year-to-date return of -22.31% compared to the S&P 500's 12.22%, and a staggering one-year return of -71.66% against the S&P 500's 17.14%. This stark contrast reinforces the notion that the stock is overvalued in its current state.