Is Fair Isaac Corp. overvalued or undervalued?

As of 10 November 2021, Fair Isaac Corp. moved from an attractive to a risky valuation grade. The company appears to be overvalued, given its high P/E ratio of 263, a negative Price to Book Value of -135.23, and an EV to EBITDA ratio of 186.63. In comparison to peers, Fair Isaac's P/E ratio significantly exceeds that of Fidelity National Information Services, which stands at 59.37, and ANSYS, which is at 52.27, indicating a stark overvaluation relative to these companies.
In terms of stock performance, Fair Isaac Corp. has underperformed compared to the S&P 500, with a year-to-date return of -23.55% versus the S&P 500's 12.22%. While the company has shown strong long-term returns, such as 248.30% over the last five years, the recent declines suggest that the current valuation may not be justified given the market conditions.