John Carver’s side have slipped perilously close to the bottom three after picking up just one point from their previous nine matches.
The currently boast a two-point advantage over Hull City with just two matches of the campaign remaining and Lovenkrands admits an automatic return to the top flight would not be a given with the current squad.
Speaking to Sky Sports News HQ he said: “I think they will stay up but I do think they need another result. Hull has to play Tottenham and Tottenham haven???t been playing well at the moment.
“They could go and get a result. And suddenly if they do that there are two other clubs who can be in trouble, Sunderland and Newcastle. So I do think for peace of mind for Newcastle fans and the players, the club and everyone around it they need a result against QPR and they should be able to go and get it.
“I just feel like they need that to finish the season on a bit of a high. Even if Hull don???t get any results, it would still be disappointing to finish on losing results.”
And the Dane, who played 75 games for the Magpies in a three-year period from 2009, puts the demise of the club’s fortunes down to the departure of previous manager Alan Pardew at the beginning of the year.
“I think Pardew leaving was hard for the club,” he said. “The players were a bit all over the place and Carver has done his best to try and solve it and get them to stay up.
“I had Pardew myself, he was a fantastically good coach and Palace proves that. He knows what he???s doing. Newcastle wouldn???t have been in the situation if he had still been there.
“That said, I do have sympathy for John because it has been hard for him. He wants the job though, that???s the other way you have to look at it. He???s come out and said that.
“He???s a Newcastle man himself but the results have shown that he hasn???t done that well. And I do feel a bit for him because I know he wants what???s best for the club.
“Also, you can do so much but if the players don???t perform it???s not the manager???s fault at all times. At the moment I don???t think the Newcastle squad is as good as it should be.
“And looking at the squad they have now I don’t think it is good enough to come straight back up like they did when I was there.
“We had a fantastic squad and we bounced right back up again. But the team they have at the moment I don???t think they are good enough to do that right away.”
And Lovenkrands found time to praise former Rangers boss Dick Advocaat for turning around the fortunes of Newcastle’s north east rivals Sunderland.
“I worked under him myself and I know what he can do,” he said. “He???s been managing teams in the top half of the table. He???s always looked upwards, he’s never had to look behind him fighting relegation.
“He???s always been fighting for titles or national teams. But I think he came in and has done well. I think he was lucky at Everton with them missing so many chances and they got a goal and won the game.
“Sometimes you need a bit of luck to change it; I think he’s the man to do that at Sunderland. I think he can get a clap on the shoulder and say he???s done a good job.”