The song is a mid-tempo pop ballad about a love lost to distance, or a boy who commits suicide after the death of his lover.
The ballad received generally positive reviews from music critics, who noted the song's memorability and complimented its composition.
[9] Inspired by the breakdown of a relationship between Sheeran and an unnamed woman,[4] the song's lyrics revolve around an unrequited love.
[4] The chorus of the song is essentially built on the hook, "You know I'll be your life, your voice, your reason to be/ My love, my heart is breathing for this moment in time/I'll find the words to say/ Before you leave me today.
[12][13] Herald Sun writer Cameron Adams referred to the track as a "classic boy band ballad".
[14] Erica Futterman for Rolling Stone opined that the track's lyricism is "quintessentially swoonworthy" toward an audience aged approximately 8 to 12 and female.
[10] Upon the release of Up All Night, "Moments" debuted on multiple world charts due to strong digital download sales.
[21] Herald Sun writer Cameron Adams opined that the performance of "Moments" at Melbourne's Hisense Arena showcased the group's "strong pop voices".
[8] Erica Futterman for Rolling Stone assessed that the performance of the track at New York City's Beacon Theatre was the most tender moment of the show.