Crossword clue: an estimation that is too low; an estimate that is less than the true or actual value
3 answers found in Letterora's clue database (Wikidata facts, Open Trivia DB, WordNet and Webster definitions — all licensed sources).
Possible answers
make too low an estimate of
an estimation that is too low; an estimate that is less than the true or actual value
an estimation that is too low; an estimate that is less than the true or actual value