Ranieri is staring down the barrel of a gun after overseeing a wretched few weeks for Inter which saw them record a fifth loss in six Serie A games on Sunday.
Following Sunday's 1-0 defeat at Napoli, Inter lie in seventh place and are in danger of missing out on next season's UEFA Champions League.
"We're thinking, we're seeing [what we can do]," Moratti told La Repubblica.
"Now I will call Ranieri because I haven't yet heard from him and we will see in a little bit what we'll do.
"Could we come out of this situation still with Ranieri [in charge]? I think so. However, now I want to hear his state of mind and that of the players."
Inter are also facing early eilimination from the Champions League after losing 1-0 in Marseille. in the first leg of their last 16 tie with the Ligue 1 side.
Ranieri was only appointed to the coaching role in September 2011 after the club dismissed former coach Gian Piero Gasperini following a poor start to the current campaign.
The ex-Chelsea boss has already declared that he will not resign in the face of mounting pressure.