Manchester United are currently languishing in 7th place on the Premier League table following a goalless draw against Wolverhampton Wanderers at Old Trafford last weekend.
The Manchester-based club have won just one game out of their last five Premier League matches.
In spite of their lethargic form this season, the Red Devils are still six-points away from Chelsea, who currently sit fourth.
Ferdinand believes teams around Manchester United have not taken their chances and Ole Gunnar Solskjaer’s men are fortunate to still be in contention for top-four.
The Englishman has insisted his former side lacks consistency but that cannot be an excuse forever.
“[United] haven’t been as consistent as we would like,” the 41-year-old told talkSPORTS.
“But that is what happens with change and when there’s a lot of youth that has been brought into a squad.”
“The target at the moment has to be the Champions League.”
“United are fortunate there isn’t a team that has really gone on a rich vein of form to cement their place in the top four, so it’s up for grabs.”
“As a fan you want your team to win, play well, get results, to see big players step up and score goals.”
“We’ve seen that sporadically for Manchester United this season.”