The increasing demand for virtual communications has helped cloud-based telecom companies generate solid growth over the past year. With enterprises planning to at least in-part continue with remote working arrangements, and with service providers expanding their networks, popular cloud telecom stocks Vonage (VG) and AudioCodes (AUDC) are expected to benefit from rising demand. But let’s find out which of these stocks is a better buy now. Vonage Holdings Corp . (NASDAQ:VG) in Holmdel, New Jersey, is a provider of cloud communications services and solutions through multiple devices for businesses and consumers worldwide. The company operates through two segments—Vonage Communications Platform and Consumer. It also provides high-speed broadband Internet services and Vonage-enabled devices.
AudioCodes Ltd. (AUDC) is an Israel-based company that provides advanced communications software and products and productivity solutions for the digital workplace. The company enables enterprises and service providers to build and operate all IP voice networks in unified communications, contact centers, and hosted business services, and serves OEMs, system integrators and distributors, and network equipment providers worldwide.
The COVID-19 pandemic has made companies heavily dependent on cloud-based communication devices and solutions to continue running their operations remotely. As a result, cloud-based telecom companies have seen solid growth over the past year.