McGoldrick is due to return to his parent club Nottingham Forest in January but Waggott is hopeful that the club can keep the 24-year-old at the Ricoh Arena.
Waggott told the Coventry Telegraph: "We can't start talking publicly about all the scenarios surrounding David's future because there are lots of ifs, buts and maybes involved here.
"His form in front of goal has been outstanding of late and, of course, it would be great if we could extend his stay beyond January when his loan deal is due to expire.
"But, while we are delighted with the goals he is scoring for Coventry City, he is still Nottingham Forest's player."
Coventry are currently in 21st place in the League One table.