EA's most important nonsports game for this holiday season is struggling, according to Cowen.

The firm reiterated its market perform rating for Electronic Arts shares, citing weak preorders for the publisher's "Battlefield V" title.

"EA's Battlefield V currently appears to potentially be headed for serious disappointment," analyst Doug Creutz said in a note on Monday. It is lagging far behind "Call of Duty," "Red Dead Redemption 2" and "Assassin's Creed," he added, and by slightly more than it was two weeks ago in the case of the first two.

"If we had to pick one game to be a casualty of the crowded October window, this would clearly be it."

EA shares declined 0.2 percent Monday after the report.