Definition from Wiktionary, the free dictionary
- (transitive) To perceive (someone or something) as having a lower value, quantity, worth, etc., than what he/she/it actually has.
- (to perceive as having lower value): overestimate
- nobody ever went broke underestimating the intelligence of the American people
- nobody ever went broke underestimating the taste of the American people
to perceive as having lower value
underestimate (plural underestimates)
an estimate that is too low