Davies accepts that fans did not see the best of the young striker last season following his £1million-plus move from Southampton.
McGoldrick started only 18 games and made 17 substitute appearances during his debut Championship campaign at the City Ground, scoring three goals.
He is currently sidelined for three months following a shoulder injury but Davies believes that, if supporters remain patient, they will see the former Notts County trainee flourish into a top quality player.
"I do believe this football club has an outstanding footballer in David," Davies told the club`s official website.
"Unfortunately patience is not a virtue in football. He is not at this club for a sprint but a marathon. Along with many other players here, he will eventually be seen as an outstanding player.
"He has outstanding ability. We are disappointed now for the lad but he will come back stronger and better. He will show the football world what he is all about."
Source: PA
Source: PA