Amobi—who currently has a $450 price target on the stock—is now eyeing Netflix's fall expansion in Europe, which he says will provide a better sense of the "potential upside of the international market."
Last year, Netflix made history and received the first Emmy nomination for a series delivered solely online as it works to make original programming a priority to lure subscribers. The stock touched $315.89 for the first time ahead of last year's ceremony.
Earlier this month it released Mission Blue, a feature documentary from the Oscar-winning director Fisher Stevens.
It's also slated to begin production on Grace and Frankie, a new comedy starring Jane Fonda, Lily Tomlin and Martin Sheen this month.
Read More Netflix tops earnings expectations; raises prices for new members
The stock has gained about 73 percent over the last year, outperforming the S&P 500, which gained about 20 percent over the same period.
In July, Netflix forecast earnings of 89 cents per share on $1.22 billion in revenue.
Analysts expect Netflix to report earnings of 91 cents per share on $1.41 billion in revenue, reflecting a 27 percent year-over-year growth rate in revenue and 75 percent on EPS. Netflix is scheduled to report third quarter earnings on October 20.
—By CNBC's Karma Allen