Zoom Video Communications (NASDAQ: ZM) and RingCentral (NYSE: RNG) both disrupted traditional phone calls with cloud-based communication services. Zoom, which was founded in 2011, initially simplified online video calls before rolling out voice-only calls and other collaboration features. RingCentral, which was founded in 1999, created a cloud-based private branch exchange (PBX) business telephone system called RingCentral Office. It subsequently expanded that ecosystem with virtual fax services, collaboration tools, and videoconferencing tools licensed from Zoom.

Investors flocked to both stocks during the buying frenzy in growth stocks in 2020 and 2021. Zoom's stock closed at an all-time high of $568.34 in October 2020, but it now trades at roughly $80. Likewise, RingCentral's stock reached its all-time high of $443.29 last February, but it's now worth about $33 a share. Both stocks fizzled out as rising interest rates drove investors away from higher-growth tech stocks. But is either beaten-down cloud communications stock still worth buying today?

Image source: Zoom.

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Source Fool.com