The Red Devils have struggled in their first season without the 72-year-old at the helm, with the former Everton boss on course to miss out on qualification for next season's Champions League as well as being 2-0 down to Olympiakos in the quarterfinals of this year's competition.
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Speaking at a gathering in Los Angeles, he declared: "They will be all right. It's early days and there have been a lot of changes [Moyes] needs time. I was there for 27 years, so with a new manager it takes time. But they'll be OK."
United is in seventh place in the Premier League, 12 points behind fourth-place Manchester City while having played one game more.
Ferguson cemented his place as the most successful British manager in history over his 27-year spell at Old Trafford, winning 13 Premier League titles and two Champions Leagues, among others.