The Achievement Orientation Model posits students are motivated to do well in school when they believe they have the necessary skills to perform a task (self-efficacy), find the task meaningful (goal valuation), and see their environment as supportive. When these factors are present, students self-regulate and achieve. We examined these factors from underachieving gifted students', their parents', and teachers' perspectives. Results indicated teachers recognize students who are confident and not confident about their abilities to be academically successful; however, they are less able to recognize when students value the work they are encountering in school. Parents' perceptions of students' attitudes more closely correlated with students' perceptions than teachers' perceptions correlated with students' perceptions. Teachers and parents appeared to base their perception of the importance students hold for school on their perception of students' self-regulation. Furthermore, gender differences existed in students' perceptions. Females' self-efficacy scores were statistically lower than males' self-efficacy scores, and males' self-regulation scores were lower than females' self-regulation scores. We provide suggestions for how school psychologists may use these findings to (a) collect important information from students, teachers, and parents, (b) interpret these data to identify underlying influential factors, and (c) guide the development of appropriate interventions to address student underachievement.