The stability of nonstationary states of homogeneous spin-1 Bose-Einstein condensates is studied by performing Bogoliubov analysis in a frame of reference where the state is stationary. In particular, the effect of an external magnetic field is examined. It is found that a nonzero magnetic field introduces instability in a Na-23 condensate. The wavelengths of this instability can be controlled by tuning the strength of the magnetic field. In a Rb-87 condensate this instability is present already at zero magnetic field. Furthermore, an analytical bound for the size of a stable condensate is found, and a condition for the validity of the single-mode approximation is presented. Realization of the system in a toroidal trap is discussed, and the full time development is simulated.