Netflix, Inc. (NFLX) is set to release its third-quarter earnings report, and Wall Street is abuzz with speculation about the streaming giant's future. The company, which has seen its stock price soar by nearly 95% over the past year, faces both optimism and skepticism from analysts as it navigates a competitive streaming landscape.

Netflix's stock recently reached an all-time high, driven by strong subscriber growth and the expansion of its ad-supported tier. However, analysts are questioning whether this growth is sustainable. The US and Canada remain Netflix's primary revenue drivers, accounting for 70% of its growth from 2019 to 2023. Yet, the company faces challenges in maintaining this momentum, especially as the benefits of its password-sharing crackdown begin to wane.

Ahead of the earnings report, analysts have revised their forecasts. Guggenheim's Michael Morris and Oppenheimer's Jason Helfstein have both raised their price targets, citing Netflix's potential for revenue growth and its strategic moves into advertising. However, Barclays has downgraded the stock, expressing concerns about the sustainability of its growth model.

Netflix's advertising strategy is a focal point for analysts. The company has made significant strides, with a 150% increase in ad commitments at this year's TV upfronts. However, the ad tier's base remains relatively small, and Netflix faces competition from Amazon, which has aggressively entered the ad market.

Price increases are another potential lever for growth. Analysts believe Netflix has room to raise prices, particularly in the US, where it remains competitively priced compared to rivals like Disney+ and Amazon Prime. However, any price hikes could face resistance from consumers, especially in emerging markets.

Netflix's foray into gaming and live sports is also under scrutiny. The company has been building a video game library and has secured deals to broadcast live events, which could attract advertisers but also increase content costs.

As Netflix prepares to announce its earnings, the key questions remain: Can it sustain its growth trajectory, and how will it balance subscriber growth with profitability? The answers will likely shape investor sentiment and the company's stock performance in the coming months.