Is MeridianLink, Inc. overvalued or undervalued?

As of 2 May 2023, the valuation grade for MeridianLink, Inc. has moved from fair to risky, indicating a shift towards a more negative outlook. The company appears to be overvalued given its current metrics, particularly with a Price to Book Value of 3.05, an EV to EBITDA of 25.82, and a ROE of -6.55%. In comparison to peers, Riot Platforms, Inc. has a less severe EV to EBITDA of -52.9492, while Viavi Solutions, Inc. shows a fair valuation with an EV to EBITDA of 21.0747.
The stock has underperformed relative to the S&P 500, with a year-to-date return of -3.34% compared to the index's 12.22%, and a one-year return of -16.97% against 17.14% for the S&P 500. This trend reinforces the notion that MeridianLink, Inc. is currently overvalued in the market.