Is Hippo Holdings, Inc. overvalued or undervalued?

As of 9 August 2021, Hippo Holdings, Inc. has moved from a grade of "does not qualify" to "risky." The company appears to be overvalued given its negative P/E ratio and poor financial metrics. Key ratios include a Price to Book Value of 2.16, an EV to EBITDA of 13.07, and a ROE of -16.26%. In comparison, Ryan Specialty Holdings, Inc. has a P/E of 95.23, indicating a much higher valuation, while CorVel Corp. shows a fair valuation with a P/E of 79.07.
Despite the overvaluation, Hippo Holdings has outperformed the S&P 500 in several recent periods, with a 1-year return of 113.16% compared to the S&P 500's 17.14%. However, the overall financial health and valuation metrics suggest caution for potential investors.