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overestimate (v.)

also over-estimate, "estimate too highly, overvalue," 1768, from over- + estimate (v.). Related: Over-estimated; over-estimating.

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Definitions of overestimate from WordNet
1
overestimate (v.)
make too high an estimate of;
He overestimated his own powers
Synonyms: overrate
overestimate (v.)
assign too high a value to;
Synonyms: overvalue
2
overestimate (n.)
an appraisal that is too high;
Synonyms: overestimation / overvaluation / overappraisal
overestimate (n.)
a calculation that results in an estimate that is too high;
Synonyms: overestimation / overrating / overreckoning
From wordnet.princeton.edu