It depends on how the top is attached to the support and leg assembly. If the table has a surrounding skirt under the tabletop, finishing is not necessary to assist in warp prevention. The support mechanism will give it all the support necessary. However, if the support assembly is minimal like trestle table, then finishing the underside is desirable to equalize moisture penetration time.
My general rule is to stain it an put one coat of finish on it unless it fits into the second catagory above.