Etymology
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overshoot (v.)

mid-14c., "to shoot, run, or pass beyond (a point or limit), exceed, overstep," over- + shoot (v.). Meaning "to shoot over or beyond" (a mark or target) is by 1540s. Related: Overshot; overshooting.

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Definitions of overshoot
1
overshoot (v.)
shoot beyond or over (a target);
overshoot (v.)
aim too high;
The plan overshoots its aim
2
overshoot (n.)
an approach that fails and gives way to another attempt;
Synonyms: wave-off / go-around
From wordnet.princeton.edu