A small stock price doesn't always mean a small company. There are several factors that go into determining a company's value, including its market capitalization -- the price of each share of the company multiplied by the number of shares outstanding. A stock with a small price could actually be a big company, depending on how many shares are traded on the open market. That isn't to say stock prices don't matter. It is often the case that stocks trading for lower values tend to have smaller market caps. But that also means they have more room to grow.

Here are three top stocks with share prices under $10. They were chosen for their small market caps, but also for their potential to generate massive long-term growth. The first pick, Jumia Technologies (NYSE:JMIA) is a bet on Africa's booming e-commerce marketplace. The other two, Upwork (NASDAQ:UPWK) and Zynga (NASDAQ:ZNGA), are bets on the fast-growing gig economy and huge interest in mobile gaming.

several $10 bills arranged in a pattern

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1. Jumia Technologies: Currently priced at $3.91 a share

Jumia Technologies is a micro-cap e-commerce company that hopes to take advantage of the rapidly growing online market place in Africa. Experts expect the industry to grow at a 14% annual clip between 2020 and 2024 due to lower-cost smartphones, increased internet accessibility, and a growing middle class on the continent.

Jumia's total revenue grew 24% in 2019 from 129.1 million euros to 160.4 million euros. And the company's marketplace segment, which features third-party vendors, grew sales by 70% from 46.2 million euros to 78.5 million euros in the full-year period. Jumia also has a footprint in Africa's fast-growing financial service market with its fintech business JumiaPay. Total JumiaPay transactions grew by 280% in 2019, soaring from 2 million to 7.6 million in just 12 months.

While Jumia's top-line growth is impressive, investors should keep an eye on its weak bottom line. The company isn't profitable yet and it burned through 254.5 million euros in 2019. With just 278.1 million euros in current assets on its balance sheet for 2020, management will need to quickly push for profitability because the company is running out of runway.

2. Upwork: Currently priced at $7.73 a share

The gig economy has reached megatrend status, and Upwork is uniquely poised to benefit from it. According to research from Mastercard, the gig economy is projected to grow at a 17% compound annual growth rate (CAGR) until 2023 due to evolving social attitudes and digitization rates around the globe.

Upwork is a global freelancing platform that helps businesses and independent professionals connect and collaborate remotely. The company grew total revenue by 19% from $253.4 million to $300.6 million in 2019. This growth was driven by the Upwork freelancer marketplace, which saw sales increase 20% from $223.8 million to $268.3 million. The company also runs a smaller managed services platform called Upwork Enterprise which helps companies manage their contract workforce.

With the coronavirus pandemic boosting interest in work-from-home opportunities, Upwork may post better-than-expected results in 2020. But investors should keep an eye on the company's bottom line. Management will need to push for profitability in the near term because, like Jumia, Upwork has a small runway. Cash stands at $48.3 million compared to a net loss of $16.7 million in 2019.

3. Zynga: Currently priced at $7.64 a share

According to researchers at gaming analytics company Newzoo, mobile gaming accounts for 46% of the global games market and grew 9.7% year over year in 2019. This makes mobile gaming one of the fastest-growing segments in the global games industry. And Zynga is uniquely poised to benefit from this trend through popular intellectual properties like FarmVille, Words with Friends, and Zynga Poker.

In 2019, online games made up around 80% of Zynga's $1.32 billion in total revenue. And the business segment grew 56% from $670.9 million to $1.05 billion over the period. The company's advertising segment grew at a smaller clip, with a 16% jump from $236.3 million to $274.4 million in 2019.

With millions of people confined to their homes to slow the spread of the coronavirus pandemic, there is a growing desire to quell the boredom. And this may lead to better-than-expected earnings results for mobile gaming companies like Zynga. The stock has outperformed the market in 2020, jumping 25% year to date compared to a 13% decline in the S&P 500. Analysts are suggesting that the increased reliance on mobile gaming the current situation has created could end up contributing to a boost in the company's bottom line.