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1. An estimation that is too low; an estimate that is less than the true or actual value
   - underestimation, underrating, underreckoning

1. Assign too low a value to
   "Don't underestimate the value of this heirloom-you may sell it at a good price";
   - undervalue, disvalue [rare]
    
2. Make a deliberately low estimate
   "The construction company wanted the contract badly and underestimated";
   - lowball
    
3. Make too low an estimate of
   "Don't underestimate the danger of such a raft trip on this river"; "he underestimated the work that went into the renovation";
   - underrate

Derived forms: underestimated, underestimates, underestimating

See also: approximate

Type of: approximate, approximation, estimate, estimation, gauge, guess, idea, judge, misjudge, value

Antonym: overvalue

Encyclopedia: Underestimate